T.S. Grewal Class 12 Vol 1 2025-2026 Solutions Chapter 3 - Change in Profit-Sharing Ratio Among the Existing Partners – Detailed Q&A

Q: T.S. Grewal Class 12 Chapter 3 Q.2 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 2 Ahilya, Laxmi and Parvati are sharing profits and losses in the ratio of 5 : 3 : 2. With effect from 1st April, 2025, they decide to share profits and losses in the ratio of 5 : 2 : 3. Calculate each partner’s gain or sacrifice due to the change in ratio. Solution Old Ratio = 5 : 3 : 2; New Ratio = 5 : 2 : 3. Sacrifice / (Gain) = Old Share – New Share: Ahilya = 5/10 – 5/10 = Nil Laxmi = 3/10 – 2/10 = 1/10 → Sacrifice 1/10 Parvati = 2/10 – 3/10 = &#

Q: T.S. Grewal Class 12 Chapter 3 Q.3 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 3 X, Y and Z are sharing profits and losses in the ratio of 5 : 3 : 2. With effect from 1st April, 2025, they decide to share profits and losses equally. Calculate each partner’s gain or sacrifice due to the change in ratio. Solution Old Ratio = 5 : 3 : 2; New Ratio = 1 : 1 : 1. Sacrifice / (Gain) = Old Share – New Share: X = 5/10 – 1/3 = 15/30 – 10/30 = 5/30 → Sacrifice 5/30 (1/6) Y = 3/10 – 1/3 = 9/30 – 10/30 = –1/30 → Gain 1/30 Z

Q: T.S. Grewal Class 12 Chapter 3 Q.4 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 4 A, B and C are partners sharing profits and losses in the ratio of 5 : 4 : 1. Calculate the new profit-sharing ratio, sacrificing ratio and gaining ratio in each of the following cases: Case 1. C acquires 1/5th share from A. Case 2. C acquires 1/5th share equally from A and B. Case 3. A, B and C will share future profits and losses equally. Case 4. C acquires 1/10th share of A and 1/2 share of B. Solution Case 1 – C acquires 1/5 from A: A = 5/10 – 1/5 = 3/10; B = 4/10; C =

Q: T.S. Grewal Class 12 Chapter 3 Q.5 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 5 Pranav, Karan and Rahim are partners sharing profits and losses in an agreed ratio. With effect from 1st April, 2025, they agreed to share profit in the ratio of 3 : 3 : 4. To arrive at the new ratio, Rahim takes 1/5th share equally from Pranav and Karan. Calculate the old profit-sharing ratio. Solution Rahim takes 1/5 equally from Pranav and Karan = 1/5 × 1/2 = 1/10 from each. Old Share = New Share + Share given up (for sacrificers), and – share gained (for gainer): Prana

Q: T.S. Grewal Class 12 Chapter 3 Q.6 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 6 Asha, Nisha and Disha shared profits and losses in the ratio of 3 : 2 : 1 respectively. With effect from 1st April, 2025, they agreed to share profits equally. The goodwill of the firm was valued at ₹18,000. Pass the necessary Journal entry for the treatment of goodwill on the change in the profit-sharing ratio. Solution Sacrifice / (Gain): Asha = 3/6 – 1/3 = 1/6 (Sacrifice); Nisha = 2/6 – 1/3 = Nil; Disha = 1/6 – 1/3 = –1/6 (Gain). JOURNAL DateParticula

Q: T.S. Grewal Class 12 Chapter 3 Q.7 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 7 X, Y and Z are partners sharing profits equally. They decided that in future Z will get a 1/5th share in profits. On the day of the change, the firm’s goodwill is valued at ₹30,000. Give the Journal entry arising on account of the change in profit-sharing ratio. Solution Old Ratio = 1 : 1 : 1. New: Z = 1/5, so X and Y share the remaining 4/5 equally = 2/5 each → New Ratio = 2 : 2 : 1. Sacrifice / (Gain): X = 1/3 – 2/5 = –1/15 (Gain); Y = 1/3 – 2/5 =

Q: T.S. Grewal Class 12 Chapter 3 Q.8 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 8 X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. From 1st April, 2025, they decided to share profits and losses equally. The Partnership Deed provides that in the event of any change in the profit-sharing ratio, the goodwill should be valued at two years’ purchase of the average profit of the preceding five years. The profits and losses of the preceding years ended 31st March were: 2021 ₹70,000; 2022 ₹75,000; 2023 ₹55,000; 2024 &#83

Q: T.S. Grewal Class 12 Chapter 3 Q.9 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 9 Ram, Laxman and Bharat, who were sharing profits and losses in the ratio of 5 : 3 : 2, decide to share profits and losses equally with effect from 1st April, 2025. Goodwill of the firm is valued at ₹4,50,000. Goodwill appearing in the books is at ₹75,000. Pass the necessary Journal entries to record the above change. Solution Sacrifice / (Gain): Ram = 5/10 – 1/3 = 5/30 (Sacrifice); Laxman = 3/10 – 1/3 = –1/30 (Gain); Bharat = 2/10 – 1/3 = –4/3

Q: T.S. Grewal Class 12 Chapter 3 Q.10 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 10 A and B are partners in a firm sharing profits in the ratio of 2 : 1. They decided, with effect from 1st April, 2024, that they would share profits in the ratio of 3 : 2. But this decision was taken after the profit for the year ended 31st March, 2025 of ₹90,000 was distributed in the old ratio. The profits for the years ended 31st March, 2023 and 2024 were ₹60,000 and ₹75,000 respectively. It was decided that the Goodwill Account will not be opened and the necessar

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T.S. Grewal Class 12 Chapter 3 Q.1 - Change in Profit-Sharing Ratio Among the Existing Partners

Question 1

Om and Shyam are sharing profits and losses equally. With effect from 1st April, 2025, they agree to share profits in the ratio of 4 : 3. Calculate each partner’s gain or sacrifice due to the change in ratio.

Solution

Old Ratio (Om : Shyam) = 1 : 1; New Ratio = 4 : 3.

Sacrifice / (Gain) = Old Share – New Share:

Om = 1/2 – 4/7 = 7/14 – 8/14 = –1/14 → Gain 1/14
Shyam = 1/2 – 3/7 = 7/14 – 6/14 = 1/14 → Sacrifice 1/14

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T.S. Grewal Class 12 Chapter 3 Q.2 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.3 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.4 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.5 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.6 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.7 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.8 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.9 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.10 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.11 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.12 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.13 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.14 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.15 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.16 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.17 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.18 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.19 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.20 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.21 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.22 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.23 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.24 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.25 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.26 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.27 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.28 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.29 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.30 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Chapter 3 Q.31 - Change in Profit-Sharing Ratio Among the Existing Partners

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T.S. Grewal Class 12 Vol 1 2025-2026 Solutions Chapter 3 - Change in Profit-Sharing Ratio Among the Existing Partners

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