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  3. 12th Class
  4. Accountancy
  5. Admission of a Partner

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 answer the following questions 48 to 51: X and Y are sharing profits in the ratio of 3:2. They admit Z as a new partner. Additional information: A's Sacrifice was 1/10 and B's Sacrifice was 1/10 Balance Sheet (at the time of admission)
    Liabilities Amount Asset Amount
    Building 5,22,000
    Furniture 81,000
    Stock  60,000
    Revaluation Account
    Particulars Amount                             Particulars Amount
    To Building 72,000   By Furniture 9,000
    By Stock 20,000
    New profit sharing ratio of the partners:

    A) 1:1:1

    B) 3:2:1 

    C) 5:3:2

    D) 5:4:3

    Correct Answer: C

    Solution :

    5:3:2


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