Partnership

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Arjun and Vaibhav are partners sharing profits in the ratio of 3:2. They admitted Rahul as a new partner for 1/5 share in the future profits of the firm. The new partner acquired his share from the old partners in the old ratio. Calculate the new profit sharing ratio of Arjun, Vaibhav and Rahul.

12:8:5

12:7:6

12:11:10

11:10:8

✅ Correct Option: 1

Old Ratio of Arjun and Vaibhav = 3:2

Arjun's old share = $\frac{3}{5}$

Vaibhav's old share = $\frac{2}{5}$

Rahul is admitted for $\frac{1}{5}$ share, which he acquires from the old partners in their old ratio (3:2).

The sacrifice means Rahul's $\frac{1}{5}$ share will be contributed by Arjun and Vaibhav in the ratio 3:2.

Arjun's sacrifice = $\frac{1}{5} \times \frac{3}{5} = \frac{3}{25}$

Vaibhav's sacrifice = $\frac{1}{5} \times \frac{2}{5} = \frac{2}{25}$

New share of Arjun = Old share - Sacrifice = $\frac{3}{5} - \frac{3}{25} = \frac{15}{25} - \frac{3}{25} = \frac{12}{25}$

New share of Vaibhav = Old share - Sacrifice = $\frac{2}{5} - \frac{2}{25} = \frac{10}{25} - \frac{2}{25} = \frac{8}{25}$

New share of Rahul = $\frac{1}{5} = \frac{5}{25}$

New Profit Sharing Ratio = $\frac{12}{25} : \frac{8}{25} : \frac{5}{25}$ = 12:8:5

2022: 20 Aug Shift 2

Interest on capital will be shown on the Dr. side of Profit and Loss Appropriation A/c and ________ side of Partner's ________ A/c.

2022: 30 Aug Shift 2

At the time of admission of a new partner general reserve appearing in the old balance sheet is transferred to _______

2025: 27 May Shift 2

What are the main factors affecting the value of goodwill?

(A) Nature of business

(B) Location

(D) Market situation

Choose the correct answer from the options given below:

2025: 31 May Shift 1

Rohit and Mohit are partners in a firm sharing profits in the ratio of 5:3. They admit Bijoy as a new partner for 1/7th share in the profits. The new profit sharing ratio will be 4:2:1. The sacrificing ratio of Rohit and Mohit is-

2025: 22 May Shift 1

The reserve fund at the time of admission of a new partner is transferred to -

2026: 20 May Shift 1

X and Y are partners in a firm sharing profits in the ratio of 3:2. They admitted Z as a new partner for 1/4 share. The new profit sharing ratio between X and Y will be 2:1. Calculate their sacrificing ratio.

Arjun and Vaibhav are partners sharing profits in the ratio of 3:2. They admitted Rahul as a new partner for 1/5 share in the future profits of the firm. The new partner acquired his share from the old partners in the old ratio. Calculate the new profit sharing ratio of Arjun, Vaibhav and Rahul.

Solution

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