X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. On 1st April, 2009, Y retires from the firm. X and Z agree that the capital of the new firm shall be fixed at ₹ 2,10,000 in the profit sharing ratio. The Capital Accounts of X and Z after all adjustments on the date of retirement showed balance of ₹ 1,45,000 and ₹ 63,000 respectively. State the amount of actual cash to be brought in or to be paid to the partners. [Ans.: New Capitals: X – ₹ 1,57,000; Z – ₹ 52,500: Cash brought in by X – ₹ 12,500; Cash withdrawn by Z – ₹ 10,500.]
X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. On 1st April, 2009, Y retires from the firm. X and Z agree that the capital of the new firm shall be fixed at ₹ 2,10,000 in the profit sharing ratio. The Capital Accounts of X and Z after all adjustments on the date of retirement showed balance of ₹ 1,45,000 and ₹ 63,000 respectively. State the amount of actual cash to be brought in or to be paid to the partners.
[Ans.: New Capitals: X – ₹ 1,57,000; Z – ₹ 52,500: Cash brought in by X – ₹ 12,500; Cash withdrawn by Z – ₹ 10,500.]
Anurag Pathak Changed status to publish June 23, 2023
