V K Accountancy Class 12-2021-22 - NPO and Partnership-Solution Solutions Chapter No. 4 Reconstitution of Partnership Admission of a Partner

Question 1 Chapter 4 of Class 12 Part - 1

1. A, B and C are partners sharing profits in the ratio of 1/2: 1/3: 1/6. They admit D for 1/8th share of profit. Calculate new profit-sharing ratio.

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

Old Ratio of A, B and C = 3:2:1
D is admitted for 1/8th share
Let the total profit = 1

D's Share	=	1
		8

 

Remaining Profit	=	1	-	1
				8

	=	7
		8
A’s New Share	=	3	x	7
		6		8

=	21
	48

B’s New Share	=	2	x	7
		6		8

=	14
	48

C’s New Share	=	1	x	7
		6		8

=	7
	48

D’s New Share	=	1	or	6
				48

New Ratio of A, B, C and D = 21:14:7:6

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Also, Check out the solved question of previous Chapters: -

Usha Publication - Accountancy PSEB (Class 12) - Volume I - Solution

• Chapter No. 1 - Accounting Not for Profit Organisations
• Chapter No. 2 - Partnership Accounts - I (Introduction)
• Chapter No. 3 - Partnership Accounts - II (Goodwill: Nature and Valuation)
• Chapter No. 4 - Partnership Accounts - III (Reconstitution of Partnership)
• Chapter No. 5 - Partnership Accounts - IV (Admission of A Partner)
• Chapter No. 6 - Partnership Accounts - V (Retirement and Death of A Partner)
• Chapter No. 7 - Partnership Accounts - VI (Dissolution of Partnership Firm)
• Chapter No. 8 - Company Accounts (Share Capital)
• Chapter No. 9 - Company Accounts (Issue of Debentures)
• Chapter No. 10 - Company Accounts (Redemption of Debentures)

Usha Publication - Accountancy PSEB (Class 12) - Volume II - Solution

• Chapter No. 1 - Financial Statements of a Company
• Chapter No. 2 - Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size
• Chapter No. 4 - Ratio Analysis
• Chapter No. 5 - Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

[caption id="attachment_6900" align="aligncenter" width="300"] Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms[/caption]