Accountancy

X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership. X gives 1/3rd of his share while Y gives 1/10th from his share to Z. Calculate new profit-sharing ratio and sacrificing ratio.

Solution Old Ratio of X and Y is 3 : 2.X's sacrifice = 13 × 35 = 315Y's sacrifice = 110Sacrificing Ratio = 315: 110 or  2: 1 New Ratio = Old Share − Share SacrificedX's new share…

Continue ReadingX and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership. X gives 1/3rd of his share while Y gives 1/10th from his share to Z. Calculate new profit-sharing ratio and sacrificing ratio.

A, B, C and D are in partnership sharing profits and losses in the ratio of 36 : 24 : 20 : 20 respectively. E joins the partnership for 20% share and A, B, C and D in future would share profits among themselves as 3/10 : 4/10 : 2/10 : 1/10. Calculate new profit-sharing ratio after E’s admission .

Solution  ABCDOLD RATIO36242020 E is admitted for 20/100 shareLet combined share of profit of all partners after E’s admission = 1Combined share of A, B, C and D after E’s admission =…

Continue ReadingA, B, C and D are in partnership sharing profits and losses in the ratio of 36 : 24 : 20 : 20 respectively. E joins the partnership for 20% share and A, B, C and D in future would share profits among themselves as 3/10 : 4/10 : 2/10 : 1/10. Calculate new profit-sharing ratio after E’s admission .

A, B and C are partners sharing profits in the ratio of 4 : 3 : 2. D is admitted for 1/3rd share in future profits. What is the sacrificing ratio?

Solution  ABCOLD RATIO432 D is admitted for 1/3share of profitLet the combined share of profit of A, B C and D be = 1Combined share of A, B and C after…

Continue ReadingA, B and C are partners sharing profits in the ratio of 4 : 3 : 2. D is admitted for 1/3rd share in future profits. What is the sacrificing ratio?

A and B are partners sharing profits in the ratio of 3 : 2. C is admitted as a partner. The new profit-sharing ratio among A, B and C is 4 : 3 : 2. Find out the sacrificing ratio.

Solution  ABCOLD RATIO32 NEW RATIO432 Sacrificing Share = Old Ratio − New Ratio A’s= 3/5-4/9 = 7/45B’s= 2/5-3/9 = 3/45  AB  Sacrificing sharing ratio7/45      3/45=7   3

Continue ReadingA and B are partners sharing profits in the ratio of 3 : 2. C is admitted as a partner. The new profit-sharing ratio among A, B and C is 4 : 3 : 2. Find out the sacrificing ratio.

Rakesh and Suresh are sharing profits in the ratio of 4 : 3. Zaheer joins and the new ratio among Rakesh, Suresh and Zaheer is 7 : 4 : 3. Find out the sacrificing ratio.

Solution  RakeshSureshZaheerOLD RATIO43NEW RATIO743 Sacrificing Ratio = Old Ratio − Sacrificing Ratio Rakesh’s= 4/7-7/14 = 1/14Suresh’s= 3/7-4/14 = 2/14  RakeshSureshSacrificing sharing ratio1/142/14=1    2

Continue ReadingRakesh and Suresh are sharing profits in the ratio of 4 : 3. Zaheer joins and the new ratio among Rakesh, Suresh and Zaheer is 7 : 4 : 3. Find out the sacrificing ratio.

Find New Profit-sharing Ratio: (i) R and T are partners in a firm sharing profits in the ratio of 3 : 2. S joins the firm. R surrenders 1/4th of his share and T 1/5th of his share in favour of S. (ii) A and B are partners. They admit C for 1/4th share. In future, the ratio between A and B would be 2 : 1. (iii) A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C for 1/5th share in the profit. C acquires 1/5th of his share from A and 4/5th share from B. (iv) X, Y and Z are partners in the ratio of 3 : 2 : 1. W joins the firm as a new partner for 1/6th share in profits. Z would retain his original share. (v) A and B are equal partners. They admit C and D as partners with 1/5th and 1/6th share respectively. (vi) A and B are partners sharing profits/losses in the ratio of 3 : 2 . C is admitted for 1/4th share. A and B decide to share equally in future.

Solution (i)  RTOLD RATIO32 Sacrificing Ratio = Old Ratio × Surrender RatioR’s = 3/5 × 1/4 = 3/20T’s = 2/5 × 1/5 = 2/25 New Ratio = Old Ratio −…

Continue ReadingFind New Profit-sharing Ratio: (i) R and T are partners in a firm sharing profits in the ratio of 3 : 2. S joins the firm. R surrenders 1/4th of his share and T 1/5th of his share in favour of S. (ii) A and B are partners. They admit C for 1/4th share. In future, the ratio between A and B would be 2 : 1. (iii) A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C for 1/5th share in the profit. C acquires 1/5th of his share from A and 4/5th share from B. (iv) X, Y and Z are partners in the ratio of 3 : 2 : 1. W joins the firm as a new partner for 1/6th share in profits. Z would retain his original share. (v) A and B are equal partners. They admit C and D as partners with 1/5th and 1/6th share respectively. (vi) A and B are partners sharing profits/losses in the ratio of 3 : 2 . C is admitted for 1/4th share. A and B decide to share equally in future.

Kabir and Farid are partners in a firm sharing profits and losses in the ratio of 7 : 3. Kabir surrenders 2/10th from his share and Farid surrenders 1/10th from his share in favour of Jyoti; the new partner. Calculate new profit-sharing ratio and sacrificing ratio.

Solution Calculation of New RatioOld Ratio of Kabir and Farid 7 : 3Kabir sacrifices his share of profit in favour of Jyoti = 210Farid sacrifices his share of profit in favour of Jyoti = 110Jyoti's Share = 210+110 = 310 New Ratio = Old Share − Share SacrificedKabir's New Share = 710-210 = 510Farid's New Share = 310-110…

Continue ReadingKabir and Farid are partners in a firm sharing profits and losses in the ratio of 7 : 3. Kabir surrenders 2/10th from his share and Farid surrenders 1/10th from his share in favour of Jyoti; the new partner. Calculate new profit-sharing ratio and sacrificing ratio.

S, B and J were partners in a firm. T was admitted as a partner in the partnership firm for 1/15th share of profits. Calculate the sacrificing ratio of S, B and J.

Solution Old ratio: S: J: B = 1: 1: 1T is admitted for 1/5 shareLet the total Profit of firm be 1Remaining share of the SJB after T’s admission =…

Continue ReadingS, B and J were partners in a firm. T was admitted as a partner in the partnership firm for 1/15th share of profits. Calculate the sacrificing ratio of S, B and J.

X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. Z is admitted as partner with 1/4 share in profit. Z takes his share from X and Y in the ratio of 2 : 1. Calculate new profit-sharing ratio.

Solution Old Profit-Sharing Ratio amongst Partners (X and Y) is 3 : 2Z is admitted for 1/4th Share in ProfitsSacrificing Ratio of X and Y is 2 : 1Z acquires = 2/3 ×…

Continue ReadingX and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. Z is admitted as partner with 1/4 share in profit. Z takes his share from X and Y in the ratio of 2 : 1. Calculate new profit-sharing ratio.