Partnership

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Jitesh, Kamal and Lakhan are partners, sharing profits in the ratio of 3:2:1. Farhan is admitted in the firm for 1/6th share in profits. Lakhan would retain his original share. The new profit sharing ratio between Jitesh, Kamal, Lakhan and Farhan will be:

5 : 5 : 12 : 8

12 : 8 : 6 : 6

12 : 8 : 5 : 5

5 : 5 : 8 : 12

✅ Correct Option: 3

Farhan takes $1/6$ and Lakhan keeps his original $1/6$ . The balance $1 - 1/6 - 1/6 = 4/6$ is shared by Jitesh and Kamal in $3:2$ .

Jitesh $= 4/6 \times 3/5 = 12/30$ , Kamal $= 4/6 \times 2/5 = 8/30$ , Lakhan $= 5/30$ , Farhan $= 5/30$ .

New ratio $= 12:8:5:5$ .

2026: 23 May Shift 2

For transferring the revaluation loss, which of the following is correct ?

2026: 31 May Shift 1

Ambar, Bimla and Tara are partners in a firm sharing profits in the ratio of 3:2:1. Adnan is admitted into the firm for 1/4 share in profits, which he gets as 1/8 from Ambar and 1/8 from Bimla. The total capital of the firm is agreed upon as Rs. 1,20,000 and Adnan is to bring in cash equivalent to 1/4 of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of Ambar, Bimla and Tara after all adjustments are Rs. 40,000, Rs. 35,000 and Rs. 30,000 respectively. Calculate the cash brought in or paid to each partner.

Choose the correct answer from the options given below:

2026: 19 May Shift 1

In which of the following case valuation of goodwill is not required ?

2025: 2 June Shift 2

A and B are partners in a firm sharing profits in the ratio of 3:2. They admit C as a partner for 1/3 share, the sacrificing ratio between A and B is

2026: 31 May Shift 1

In case of admission of a new partner, Match List-I with List-II.

LIST-I		LIST-II
A.	New partner bring goodwill in cash	I.	Premium for Goodwill A/c Dr; To Old Partners' Capital A/c
B.	Goodwill already exists in books	II.	New Partner's Current A/c Dr.; To Sacrificing Partners' Capital A/c
C.	New partner does not bring goodwill	III.	Bank A/c Dr.; To Premium for Goodwill A/c
D.	Premium shared by sacrificing partner	IV.	Old Partner's Capital A/c Dr.; To Goodwill A/c

Choose the correct answer from the options given below:

2025: 13 May Shift 2

In this case Average profit is -

Jitesh, Kamal and Lakhan are partners, sharing profits in the ratio of 3:2:1. Farhan is admitted in the firm for 1/6th share in profits. Lakhan would retain his original share. The new profit sharing ratio between Jitesh, Kamal, Lakhan and Farhan will be:

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