USHA Publication Class 12 Part 1 2024 Solutions Chapter No. 4 – Partnership Accounts – III Reconstitution, USHA 2024 Part 1

Question 1 Chapter 4 of Class 12 Part – 1 Usha Publication

1. (NPS/ Sacrifice and Gain) A and B were partners in a firm sharing profits in the ratio of 3:2, with effect from 1st January, they agreed to share profits equally. For this purpose, the goodwill of the firm was valued at Rs.30,000. Calculate sacrifice/gain.

The solution of Question 1 Chapter 4 of Class 12 Part – 1 Usha Publication: -

https://youtu.be/YrTj07mccrs?si=zNx6v7dWgT-etx67

Old Ratio of A & B	=	3: 2
New Ratio of A & B	=	1: 1

Calculate the Sacrificing or Gaining Ratio of Partners

Sacrificing or Gaining Ratio = Old Ratio - New Ratio

A’s  Sacrificing/Gaining Share	=	3	-	1
		5		2

=	6 - 5
		10

=	1	(Sacrifice)
			10

B’s  Sacrificing/Gaining Share	=	2	-	1
		5		2

=	4 - 5
		10

=	-1	(Gaining)
			10

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