$A$ and $B$ are partners sharing profits and losses in the proportion of $7 : 5$ . They agree to admit $C$ , their manager, into partnership who is to get $1 / 6^{t h}$ share in the profit. He acquires this share as $1 / 24^{t h}$ from $A$ and $1 / 8^{h t}$ from $B$ . Calculate new profit-sharing ratio.

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Solution

A's old share= 7/12
B's old share= 5/12

C is admitted for 1/6th share

A's new ratio= 7/12- 1/24
= 13/24
B's new ratio= 5/12- 1/8
= 7/24

New Ratio of the firm= 13:7:4

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Q. A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits. He acquires this share as 1/24th from A and 1/8th from B. Calculate new profit-sharing ratio.

A

and

B

are partners sharing profits and losses in the proportion of

7 : 5

. They agree to admit

C

, their Manager, into partnership who is to get

1 / 6^{t h}

share in the business.

C

brings in

R s . 10, 000

for his capital and

R s . 3, 600

for the

1 / 6^{t h}

share of goodwill which he acquire

1 / 24^{t h}

from

A

and

1 / 8^{t h}

from

B

. The profits for the first year of the new partnership amount to

R s . 24, 000

. Pass necessary journal entries in connection with

C^{'} s

admission and apportion the profits between the partners.

P and Q are partners sharing profits in 2:1 ratio. They admitted R into partnership giving him 1/5 share which he acquired from P and Q in 1:2 ratio. Calculate new profit sharing ratio?

A, B and C are partners sharing profits in 3:2:2 ratio. They admitted D as a new partner for 1/5 share which he acquired from A, B and C in 2:2:1 ratio respectively. Calculate new profit sharing ratio?

P and Q are partners sharing profits in 2 : 1 ratio. They admitted R into partnership giving him $\frac{1}{5}$ share which he acquired from P and Q in 1 : 2 ratio. Calculate the new profit sharing ratio.

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A and B are partners sharing profits and losses in the proportion of 7:5. They agree to admit C, their manager, into partnership who is to get 1/6th share in the profit. He acquires this share as 1/24th from A and 1/8ht from B. Calculate new profit-sharing ratio.

A's old share= 7/12B's old share= 5/12C is admitted for 1/6th share A's new ratio= 7/12- 1/24 = 13/24B's new ratio= 5/12- 1/8 = 7/24New Ratio of the firm= 13:7:4

A's old share= 7/12
B's old share= 5/12

C is admitted for 1/6th share

A's new ratio= 7/12- 1/24
= 13/24
B's new ratio= 5/12- 1/8
= 7/24

New Ratio of the firm= 13:7:4