X and Y are partners sharing profits in fee ratio of 3: 1. They admit Z as a partner. X surrenders l / 3rd of his share and Y l / 4th of his share in favour of Z. What will be the new profit-sharing ratio? Post category:Accountancy Reading time:1 mins read SOLUTION 8: 3: 5. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostA and B share profits in the ratio of 2: 1. C is admitted with l / 3rd share in profits. C acquires 2 / 3 of his share from A and 1 / 3 of his share from B. What will be the new profit-sharing ratio? Next PostA and B were partners in a firm sharing profits and losses in die ratio of 4: 3. They admitted C as a new partner. The new profit-sharing ratio between A, B and C was 3: 2: 2. A surrendered 1 / 4 of his share in favour of C. Calculate B*s sacrifice.(C.B.S.E 2017, Delhi)’ You Might Also Like The firm of Manjeet, Sujeet and Jagjeet was dissolved on 31st March, 2018. It was agreed that Sujeet will take care of the dissolution related activities and will get 10% of the value of assets realised. Sujeet agreed to bear the realisation expenses. Assets realised 10,00,750 and realisation expenses were 90,000, which were paid from the firm’s cash. 4,50,000 were paid to the creditors in full settlement of their claim. Pass necessary Journal entries for the above transactions in the books of the firm. (CBSE 2019) July 25, 2022 Name any two sub-line items (sub-headings) under which “Shareholder’s Funds” shall be classified in a Company’s Balance Sheet. September 30, 2022 State the ratio in which the partners share the gain or loss on revaluation of assets and liabilities. September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.