12th Class Accountancy Admission of a Partner Question Bank Case Baesd - Reconstitution Of a Partnership Firm : Admission of a Partner

  • question_answer
    You are required to find out 17 to 19 : On 1.1.2015, Uday and Kaushal entered into partnership with fixed capitals of Rs.7,00,000 and Rs.3,00,000 respectively. They were doing good business and were interested in its expansion but could not do the same because lack of capital. Therefore, to have more capital, they admitted Govind as a new partner on 1.1.2017. Govind brought Rs.10,00,000 as capital and the new profit sharing ratio decided was 3:2: 5. On 1.1.2019, another new partner Hari was admitted with a capital of Rs.8,00,000 for 1/10th share in the profits, which he acquired equally from Uday, Kaushal and Govind. On 1.4.2021 Govind died and his share was taken over by Uday and Hari equally. The sacrificing ratio of Uday and Kaushal on Govind's admission:

    A) 3 : 2

    B) 2 : 3

    C) 3 : 1 

    D) 2:1

    Correct Answer: B

    Solution :

    2 : 3


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