Doubts

Rahul, Sahil and Jatin were partners in a firm sharing profits and losses in the ratio of 4: 3: 2. Rahul died on 15th October, 2017. At that time, the capitals of Sahil and Jatin after all the adjustments were Rs. 3,56,000 and Rs. 2,44,000 respectively. Sahil and Jatin decided to adjust their capital according to their new profit-sharing ratio by opening current accounts. Calculate the new Capitals of Sahil and Jatin. (C.B.S.E. 2020; Mumbai, Chennai)

SOLUTION New Capitals:Sahil Rs. 3,60,000 and Jatin Rs. 2,40,000

Continue ReadingRahul, Sahil and Jatin were partners in a firm sharing profits and losses in the ratio of 4: 3: 2. Rahul died on 15th October, 2017. At that time, the capitals of Sahil and Jatin after all the adjustments were Rs. 3,56,000 and Rs. 2,44,000 respectively. Sahil and Jatin decided to adjust their capital according to their new profit-sharing ratio by opening current accounts. Calculate the new Capitals of Sahil and Jatin. (C.B.S.E. 2020; Mumbai, Chennai)

Dinkar, Navita and Vani were partners sharing profits and losses in the ratio of 3: 2: 1. Navita died on 30th June, 2017. Her share of profit for the intervening period was based on the sales during that period, which were Rs. 6,0,0000. The rate of profit during the past four years had been 10% on sales. The firm close sits books on 31st March every year.  (C.B.S.E. 2019, Rajasthan)

SOLUTION Navita’s share Rs. 20,000.

Continue ReadingDinkar, Navita and Vani were partners sharing profits and losses in the ratio of 3: 2: 1. Navita died on 30th June, 2017. Her share of profit for the intervening period was based on the sales during that period, which were Rs. 6,0,0000. The rate of profit during the past four years had been 10% on sales. The firm close sits books on 31st March every year.  (C.B.S.E. 2019, Rajasthan)

Aman, Yatin and Uma were partners and were sharing profits and losses in the ratio of 5: 3: 2. Uma retired and her share was taken over by Aman and Yatin in 5:3 ratio. Calculate the gaining ratio and new ratio of Aman and Yatin. (C.B.S.E.2018, Comptt.)

SOLUTION Gaining Ratio 5: 3; New Ratio 5: 1

Continue ReadingAman, Yatin and Uma were partners and were sharing profits and losses in the ratio of 5: 3: 2. Uma retired and her share was taken over by Aman and Yatin in 5:3 ratio. Calculate the gaining ratio and new ratio of Aman and Yatin. (C.B.S.E.2018, Comptt.)

Jayant, Kartik and Leena were partners in a firm sharing profit and loss in the Ratio 5: 2: 3. died Jayant decided to continue the business. Their gaining-Ratio was 2: 3. Calculate the new profit-sharing Ratio of Jayant and Leena. (C.B.S.E. 2018)

SOLUTION New Ratio 29: 21.

Continue ReadingJayant, Kartik and Leena were partners in a firm sharing profit and loss in the Ratio 5: 2: 3. died Jayant decided to continue the business. Their gaining-Ratio was 2: 3. Calculate the new profit-sharing Ratio of Jayant and Leena. (C.B.S.E. 2018)