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Standard XII

Accountancy

Cash Settlement with Retiring Partner

P and Q are p...

Question

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?

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Solution

R admits for share in the new firm which he takes from from P and from Q.

P’s sacrifice = R’s share ×

Q’s sacrifice = R’s share ×

New Ratio = Old Ratio − Sacrificing Ratio

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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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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?

R admits for share in the new firm which he takes from from P and from Q. P’s sacrifice = R’s share × Q’s sacrifice = R’s share × New Ratio = Old Ratio − Sacrificing Ratio

R admits for share in the new firm which he takes from from P and from Q.

P’s sacrifice = R’s share ×

Q’s sacrifice = R’s share ×

New Ratio = Old Ratio − Sacrificing Ratio