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

  • question_answer
    X and Y are partners sharing profits in the ratio of 3 : 2, and capitals as Rs. 1,00,000 and Rs. 50,000 respectively. Z is admitted for l/5th share in profits. The amount of Z will contribute as capital will be:

    A) Rs. 50,000         

    B) Rs. 35,000

    C) Rs. 37,500         

    D) Rs. 60,000

    Correct Answer: C

    Solution :

    [c] 7 37,500
    Hint: Combined Capital of X and Y for 4/5th share
    = 1,00,000 + 50,000 = Rs. 1,50,000
    Firm's capital = 1,50,000 \[\times \]5/4 = Rs. 1,87,500
    Z's capital = 1,87,500 \[\times \] 1/5 =Rs. 37,500


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