Commerce School

Student Community

YOUTUBE CHANNELSubscribe

Telegram Channel

Commerce School

Student Community

Telegram Channel

YOUTUBE CHANNELSubscribe

Archives Answers

Answer

P, R and S are in partnership sharing profits 4/8, 3/8 and 1/8 respectively. It is provided in the partnership deed that on the death of any partner his share of goodwill is to be valued at one half of the net profit credited to his account during the last four completed years.

Solution:-

Anurag Pathak
July 25, 2023

X, Y and Z were partners in a firm sharing profit in the ratio of 3 : 2 : 1. The firm closes its books on 31st March every year. Y died on 30th June, 2023.

Solution:-

Anurag Pathak
July 25, 2023

Keshav, Nirmal, and Pankaj are partners sharing profits in the ratio of 5 : 3 : 2. Pankaj died and his share is taken by Keshav. Calculate the new profit-sharing ratio of Keshav and Nirmal.

Solution:-

Anurag Pathak
July 25, 2023

W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y died and W, X and Z decide to share the profits and losses equally in future. Calculate gaining ratio.

Solution:-

Anurag Pathak
July 25, 2023

A, B and C were partners sharing profits in the ratio of 4 : 3 : 2. A died, B and C will share profits in the ratio of 2 : 1. Determine the gaining ratio.

Solution:-

Anurag Pathak
July 25, 2023

Shiv, Mohan and Hari were partners in a firm sharing profits in the ratio of 5 : 5 : 4. Mohan died and his share was taken equally by Shiv and Hari.

Solution:-

Anurag Pathak
July 25, 2023

Om, Ram, and Shanti were partners sharing profits in the ratio of 1/2, 2/5, and 1/10. Find the new profit-sharing ratio of the remaining partners if Shanti dies.

Solution:-

Anurag Pathak
July 25, 2023

Madan and Mohan are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, they admitted Chintu for 1/5th share in the profits of the firm, who contributes ₹ 2,50,000 as capital for 1/5th share.

Total capital of new firm = ₹ 2,50,000 × 5/1 = ₹ 12,50,000 Madan’s new capital = ₹ 12,50,000 × 12/25 = ₹ 6,00,000 Mohan’s new capital = ₹ 12,50,000 × 8/25 = ₹ 4,00,000 Particulars Madan (₹) Mohan (₹)…

Anurag Pathak
July 18, 2023

Leena and Rohit are in partnership sharing profits in the ratio of 3 : 2. They admit Manoj for 1/5th share in profits. Capitals of Leena and Rohit after adjustments are ₹ 60,000 and ₹ 40,000 respectively. Manoj’ is to bring 20% of total capital of the new firm. Calculate Manoj’s Capital.

Total Capital of Leena and Rohit for 4/5 share = ₹ 60,000 + ₹ 40,000 = ₹ 10,0000. Capital of new firm should be = ₹ 1,00,000 × 5/4 = ₹ 1,25,000 Thus, Manoj’s proportional capital = ₹ 1,25,000 ×…

Anurag Pathak
July 18, 2023

Abha and Binay are in partnership with respective capitals of ₹ 3,00,000 and ₹ 2,00,000. The admitted Chitra as a partner for 1/6th share in profits

Capital of Abha and Binay for 5/6 share = ₹ 3,00,000 + ₹ 2,00,000 = ₹ 5,00,000 Capital of the new firm should be = ₹ 5,00,000 × 6/5 = ₹ 6,00,000 Chitra’s Capital = ₹ 6,00,000 × 1/6 =…

Anurag Pathak
July 18, 2023