Partnership

Retirement/Death

Medium

Keshav, Nirmal and Pankaj are partners sharing profits and losses in the ratio of 4 : 3 : 2. Nirmal retires and the goodwill is valued at Rs. 72,000. Keshav and Pankaj decided to share future profits and losses in the ratio of 5 : 3. Gaining Ratio of Keshav and Pankaj is:

$\frac{13}{24}$ : $\frac{11}{24}$

$\frac{7}{12}$ : $\frac{5}{12}$

$\frac{11}{24}$ : $\frac{13}{24}$

$\frac{5}{12}$ : $\frac{7}{12}$

✅ Correct Option: 1

Old Profit Sharing Ratio:

Keshav : Nirmal : Pankaj = 4 : 3 : 2

Keshav's old share = $\frac{4}{9}$

Pankaj's old share = $\frac{2}{9}$

New Profit Sharing Ratio (after Nirmal's retirement):

Keshav : Pankaj = 5 : 3

Keshav's new share = $\frac{5}{8}$

Pankaj's new share = $\frac{3}{8}$

Gaining Ratio = New Share - Old Share

For Keshav:

Gain = $\frac{5}{8} - \frac{4}{9} = \frac{45-32}{72} = \frac{13}{72}$

For Pankaj:

Gain = $\frac{3}{8} - \frac{2}{9} = \frac{27-16}{72} = \frac{11}{72}$

Gaining Ratio = $\frac{13}{72} : \frac{11}{72}$ = 13 : 11

Expressing this as fractions of the total gain:

Keshav gains = $\frac{13}{24}$ (since 13 + 11 = 24)
Pankaj gains = $\frac{11}{24}$

Gaining Ratio = $\frac{13}{24}$ : $\frac{11}{24}$

2026: 11 May Shift 2

Manoj, Suresh and Vaibhav were partners in a firm sharing profits in the ratio of 5:1:4. Vaibhav decides to retire on June 30, 2025. Profit share of Vaibhav till the date of his retirement is to be calculated on the basis of firm's last year profit which is Rs. 1,00,000. The new profit sharing ratio is 1:1. Vaibhav's share of profit for the period from April 01 to June 30, 2025 will be:

2026: 6 June Shift 1

From the following options, which one should be deducted in ascertaining the amount due to retiring or deceased partner?

2025: 3 June Shift 1

Naveen, Suresh and Tarun are partners, sharing profits and losses in the ratio of 5:3:2. Suresh retires from the firm and his share was acquired by Naveen and Tarun in the ratio of 2:1. Calculate the new share of profit :

2025: 22 May Shift 1

R, S and K are partners sharing profits in the ratio 8:6:4. On the retirement of R, the new profit sharing ratio between S and K was decided to be 5:3. The Gaining ratio is -

2025: 24 May Shift 1

When the deceased partner's share in the estimated loss is calculated for a period from the date of the latest Balance Sheet to the date of death of the partner, then :

2026: 21 May Shift 1

Bhim, Swati and Adita are partners sharing profits and losses in the ratio of 5:3:2 respectively. On March 31, 2025, Swati retired. Revaluation of assets and reassessment of liabilities resulted in a loss of Rs. 1,90,000. Journal entry for this would be:

Keshav, Nirmal and Pankaj are partners sharing profits and losses in the ratio of 4 : 3 : 2. Nirmal retires and the goodwill is valued at Rs. 72,000. Keshav and Pankaj decided to share future profits and losses in the ratio of 5 : 3. Gaining Ratio of Keshav and Pankaj is:

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