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Kiya and Leela are partners sharing profits in the ratio of 3: 2. Kiran was admitted as a new partner with l/5th share in the profits and brought in Rs. 24,000 as her share of goodwill premium that was credited to the Capital Accounts of Kiya and Leela respectively with Rs. 18,000 and Rs. 6,000. Calculate the new profit-sharing ratio of Kiya, Leela and Kiran. (C.B.S.E. 2019)

SOLUTION

Sacrificing ratio of Kiya and Leela = 18,000: 6,000 or 3: 1
Kiran’s share = 1 / 5
Kiya’s sacrifice = 1 / 5 x 3 / 4 = 3 / 20
Leela’s sacrifice = 1 / 5 x 1 / 4 = 1 / 20

New Profit Share = Old Profit Share – Sacrificed Profit Share
Kiya’s New Profit Share = 3 / 5 – 3 / 20 = 9 / 20
Leela’s New Profit Share = 2 / 5 – 1 / 20 = 7 / 20
Kiran’s Profit Share = 1 / 5
New Profit-sharing Ratio of Kiya, Leela and Kiran = 9 / 20: 7 / 20: 1 / 5 = 9: 7: 4.




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