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Question

A and B were partners in a firm sharing profits and losses in the ratio of 3:2. They admit C into the partnership with 1/6 share in the profits. Calculate the new profit sharing ratio?


Solution

A

:

B

Old Ratio

3

:

2

OR

:

C admits for share of new profit in new firm.

Let new firm profit = 1

Remaining share of A and B in the new firm = 1 − C’s share

= 1 −

=

New Ratio = Old Ratio × Remaining Share of A and B


Accountancy
Partnership Accounts
Standard XII

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