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Question 7 Chapter 5 – Unimax Class 12 Part 1
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7. A and B are partners sharing profits and losses in ratio 3 : 2. C is admitted for 1/4th share. A and B decide to share equally in future. Find the sacrificing ratio and new profit sharing ratio.
The solution of Question 7 Chapter 5 – Unimax Class 12 Part 1
Let total profit = 1
C’s Share =1/4
Remaining Profit = 1 -1/4 =4-1/4 =3/4
A’s new share =3/4 X 1/2 =3/8
B’s new share =3/4 X 1/2 =3/8
New profit sharing ratio = A : B : C
=3/8: 3/8: 1/4
= 3 : 3 : 2 Ans.
Calculation of Sacrificing Ratio = Old Share – New share
A’s Sacrifice =3/5_3/8
=24-15/40 =9/40
B’s Sacrifice =2/5_3/8
=16-15/40 =1/4
Sacrificing Ratio = A : B
=9/40: 1/40
= 9 : 1 Ans.
What is Partnership – Meaning and Its 4 Types
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T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
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