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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 and losses in the ratio of 3 : 2. Z was admitted for the l/5th share and for this he brings Rs. 1,50,000, as capital. If capitals are to be proportionate to profit sharing ratio, the respective capitals of the partners will be

    A) Rs. 3,00,000 : Rs. 3,00,000 : Rs. 1,50,000

    B) Rs. 3,60,000 : Rs. 2,40,000 : Rs. 1,50,000

    C) Rs. 1,50,000 : Rs. 1,50,000 : Rs. 1,50,000

    D) Rs. 1,50,000 : Rs. 2,00,000 : Rs. 4,00,000

    Correct Answer: B

    Solution :

    [b] Rs. 3,60,000 : Rs. 2,40,000 : Rs. 1,50,000
    Hint: Firm's capital = 1,50,000 \[\times \] 5/1 =Rs. 7,50,000
    X and Y combined capital = (7,50,000 -1,50,000)
    =Rs. 6,00,000
    X's capital = 6,00,000 \[\times \] 3/5 = Rs. 3,60,000,
    Y's capital = 6,00,000 \[\times \] 2/5 = Rs. 2,40,000
    Z's capital =Rs. 1,50,000


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