Unimax Accountancy Class 12 Part 1 - 2023 Solutions Chapter 5 - Partnership Accounts - V (Admission of A Partner) - Unimax

Question 1 Chapter 5 - Class 12 Part 1 Unimax

1. A and B are partners sharing profits and losses in ratio 3 : 2. C is admitted into business for 1/6th share. Calculate new profit sharing ratio and sacrifice ratio.

The solution of Question 1 Chapter 5 - Class 12 Part 1 Unimax

Let total profit = 1
C’s Share =1/6
Remaining Profit = 1 -1/6 =6-1/6 =5/6
A’s new share =5/6 X 3/5 =3/6
B’s new share =5/6 X 2/5 =2/6
New profit sharing ratio = A : B : C
                                       =3/6:2/6:1/6
                                      = 3 : 2 : 1 Ans.
Calculation of Sacrificing Ratio = Old Share – New share
A’s Sacrifice =3/5_3/6
                   =18-15/30=3/30
B’s Sacrifice =2/5_2/6
                   =3/30:2/30
                  = 3 : 2 Ans.

End of Solution