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Q9 Admission of a Partner; TS Grewals'
- 1. ACCOUNTANCY CLASS-XII SOLUTION WITH EXPLANATION By Geeta Handa BOOK : Double Entry Book Keeping T.S.GREWALβS Chapter : Admission of a Partner Question :9 ( i, ii, iii) Geeta Handa
- 2. Geeta Handa PGT Accountancy β’ 20 years experience of teaching accountancy. β’ 14 years experience of checking accountancy papers of CBSE β’ Worked as examiner for conducting practical exam of accountancy. geet7handa@gmail.com Geeta Handa
- 3. Question :- Find New Profit-Sharing Ratio. (i) R and T are partners in a firm sharing Profits in the ratio 3 : 2. S joins the firm. R surrenders 1/4th of his share and T 1/5th of his share in favour of S.
- 4. Formula : Sacrificing Share = Old Share β New Share New Share = Old Share β Sacrifice Share
- 5. Geeta Handa Calculation of Sacrifice / Gain of each Partner: Partners R T S Old Share ( 3 : 2 ) π π π π ---- Sacrifice of R is 1/4th of his share. π π x π π ----- Sacrifice of T is 1/5th of his share. π π x π π = 3/20 Sacrifice = 2/25 Sacrifice -----
- 6. Geeta Handa Calculation of New Share of R and T : Partners R T S Old Share π π π π ---- New Share of R and T Old Share β Sacrifice π π β π ππ π π β π ππ = ππβπ ππ ππβπ ππ New Share = 9/20 = 8/25
- 7. Geeta Handa Calculation of New Ratio of Partners: Partners R T S Sacrificing Share 3/20 2/25 Sβs Share (Sacrifice of R + Sacrifice of T) π ππ + π ππ ππ + π πππ = 23/100
- 8. Geeta Handa Calculation of New Ratio of Partners: Partners R T S New Share 9/20 8/25 23/100 New Share π ππ x π π π ππ x π π ππ πππ = 45/100 = 32/100 = 23/100
- 9. New Ratio = R : T : S = 45/100 : 32/100 : 23/100 Answer : New Ratio = 45 : 32 : 23
- 10. Question :- Find New Profit-Sharing Ratio. (ii) A and B are partners. They admit C for 1/4th share. In future, the ratio between A and B would be 2 : 1.
- 11. Let Total Share = 1 Cβs Share = 1/4 Remaining Share =1 β ΒΌ = 4β1 4 = ΒΎ
- 12. Future Ratio between A and B = 2 : 1 Aβs new share = 2/3 of remaining share = π π x π π = π ππ Bβs new share = 1/3 of remaining share = π π x π π = π ππ
- 13. New Ratio = A : B : C = 6/12 : 3/12 : 1/4 π π πΏ π π = π ππ
- 14. New Ratio = 6 : 3 : 3 Answer : - New Ratio = 2 : 1 : 1
- 15. Question :- Find New Profit-Sharing Ratio. (iii) A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C for 1/5th share in profits. C acquires 1/5th of his share from A and 4/5th share from B.
- 16. Geeta Handa Calculation of Sacrifice / Gain of each Partner: Partners A B C Cβs Share in profit π π C acquired 1/5th of his share from A Cβs gain =Aβs Sacrifice π π x π π C acquired 4/5th of his share from B. Cβs gain = Bβs Sacrifice π π x π π = 1/25 Sacrifice = 4/25 Sacrifice -----
- 17. Geeta Handa Calculation of New Share of R and T : Partners A B C Old Share ( 3 : 2) π π π π ---- New Share of A and B Old Share β Sacrifice π π β π ππ π π β π ππ = ππβπ ππ ππβπ ππ New Share = 14/25 = 6/25
- 18. Geeta Handa Calculation of New Ratio of Partners: Partners A B C New Share 14/25 6/25 1/5 New Share π π x π π = 14/25 = 6/25 = 5/25
- 19. New Ratio = A : B : C = 14/25 : 6/25 : 5/25 Answer : New Ratio = 14 : 6 : 5
- 20. ACCOUNTANCY CLASS-XII SOLUTION WITH EXPLANATION By Geeta Handa BOOK : Double Entry Book Keeping T.S.GREWALβS Chapter : Admission of a Partner Question :9 ( iv, v, vi) Geeta Handa
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