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Standard XII

Accountancy

New Profit Sharing Ratio

N and S are p...

Question

N and S are partners in a firm sharing profits in the ratio of 4 : 1. They admit M as a partner for 1/ $4^{th}$ share in the profits. M acquires his share from N and S in the ratio of 3 : 2. The new profit-sharing ratio will be:

[0.88 marks]

4 : 1 : 1

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5 : 13 : 2

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13 : 2 : 5

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2 : 13 : 5

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Solution

The correct option is C 13 : 2 : 5
Answer - Option (C) is correct
N’s old share = 4/5
S’s old share = 1/5
M is admitted for 1/ $4^{th}$ share.
N’s sacrifice = 1/4 × 3/5 = 3/20
S’s sacrifice = 1/4 × 2/5 = 2/20
New profit sharing ratio is:
N = 4/5 - 3/20 = 13/20
S = 1/5 - 2/20 = 2/20
M = 1/4 or 5/20
N : S : M :: 13 : 2 : 5

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Similar questions

D and H are partners in a firm sharing profits in the ratio of 3 : 2. They admit A as a partner for 1/4th share in the profits. A acquires his share from D and H in the ratio of 1 : 2. The new profit-sharing ratio will be:

Q. A and B are partners in a firm with profit sharing ratio 2:3, they admit C as a partner for 1/4th share of profit. What is the new profit sharing ratio?

Q. Find new Profit-Sharing Ratio:
(i)

R

and

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are partners in a firm sharing profits in the ratio of

3 : 2

S

joins the firm.

R

surrenders

1 / 4^{t h}

of his share and

T

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1 / 5^{t h}

of his share in favour of

S

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(ii)

A

and

B

are partners.They admit

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1 / 4^{t h}

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 / 5^{t h}

share in profit.

C

acquires

1 / 5^{t h}

of his share from

A

and

4 / 5^{t h}

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(iv)

X, Y

and

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W

joins the firm as a new partners for

1 / 6^{t h}

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 / 5^{t h}

and

1 / 6^{t h}

share respectively.
(vi)

A

and

B

are partners sharing profits/losses in the ratio of

3 : 2

C

is admitted for

1 / 4^{t h}

share.

A

and

B

decide to share equally in future.

X

and

Y

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3 : 2

Z

is admitted as partner with

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and

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Calculate the new profit sharing ratio.

A, B and C were partners in a firm sharing profits in 3:3:2 ratio. They admitted D as a new partner for 4/7 profit. D acquired his share 2/7 from A. 1/7 from B and 1/7 from C. Calculate new profit sharing ratio?

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N and S are partners in a firm sharing profits in the ratio of 4 : 1. They admit M as a partner for 1/4th share in the profits. M acquires his share from N and S in the ratio of 3 : 2. The new profit-sharing ratio will be: [0.88 marks]

N and S are partners in a firm sharing profits in the ratio of 4 : 1. They admit M as a partner for 1/ $4^{th}$ share in the profits. M acquires his share from N and S in the ratio of 3 : 2. The new profit-sharing ratio will be:

[0.88 marks]