Question 6 Chapter 5 – Unimax Class 12 Part 1 – 2021

Question 6 Chapter 5 - Unimax Class 12 Part 1 - 2021

Question 6 Chapter 5 – Unimax Class 12 Part 1

Free Accounting book Solution - Class 11 and Class 12

6. K, L and M are partners sharing in ratio 3 : 2 : 1. They admit N for 1/6th share. M would retain his original share. Calculate new profit sharing ratio.

The solution of Question 6 Chapter 5 – Unimax Class 12 Part 1

Let total profit = 1
N’s Share =1/6
M’s will retain his original share =1/6
Remaining Profit = 1 -1/6_1/6 =4/6
K’s new share =4/6 X 3/5 =2/5
L’s new share =4/6 X 2/5 =4/15
New profit sharing ratio = K : L : M : N
                      =2/5: 4/15: 1/6: 1/6
                     = 12 : 8 : 5 : 5 Ans.

 

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