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

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

  • question_answer
    A and B are partners sharing profits and losses in the ratio of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits. He acquires this share as 1/24th from A and 1/8th from B The new profit sharing ratio will be:

    A) 13 : 7 : 4                                  

    B) 7 : 13 : 4     

    C) 7 : 5 : 6                                    

    D) 5 : 7 : 6

    Correct Answer: A

    Solution :

    [a] 13 : 7 : 4
    Hint: A's new share =\[\frac{7}{12}-\frac{1}{24}=\frac{14-1}{24}=\frac{13}{24}\]
    B's new share = \[\frac{5}{12}-\frac{1}{8}=\frac{10-3}{24}=\frac{7}{24}\]
    C's share = \[\frac{1}{6}\times \frac{4}{4}=\frac{4}{24}\]
    New profit sharing ratio = 13 : 7 : 4
     


You need to login to perform this action.
You will be redirected in 3 sec spinner