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Standard XII

Accountancy

Cash Settlement with Retiring Partner

A, B and C ar...

Question

A, B and C are partners sharing profits in the ratio of 2 : 2 : 1. D is admitted as a new partner for 1/6th share. C will retain his original share. Calculate the new profit-sharing ratio and sacrificing ratio.

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Solution

Calculation of New Profit Sharing Ratio

*Since nothing is mentioned about the sacrifice made by the existing partners, it is assumed that A and B sacrifice in their old ratio.

Calculation of Sacrificing Ratio

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Q. 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.
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(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.

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A, B and C are partners sharing profits in the ratio of 2 : 2 : 1. D is admitted as a new partner for 1/6th share. C will retain his original share. Calculate the new profit-sharing ratio and sacrificing ratio.

Calculation of New Profit Sharing Ratio *Since nothing is mentioned about the sacrifice made by the existing partners, it is assumed that A and B sacrifice in their old ratio. Calculation of Sacrificing Ratio

Calculation of New Profit Sharing Ratio

*Since nothing is mentioned about the sacrifice made by the existing partners, it is assumed that A and B sacrifice in their old ratio.

Calculation of Sacrificing Ratio