Q.5. P and Q Are Partners Sharing Profits in 2:1 Ratio. They Admitted R into Partnership

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Q.5. P and Q Are Partners Sharing Profits in 2:1 Ratio. They Admitted R into Partnership Giving Him 1/5 Share Which He Acquired from P and Q in 1:2 Ratio. Calculate New Profit Sharing Ratio?

SOLUTION

partner P and Q old profit sharing ratio = 2:1

New partner R’s share = 1/5

p’s sacrifice = R’s share X 1/3

=1/5 X 1/3

=1/15

R’s sacrifice = R’s share X 2/3

=1/5 X 2/3

=2/15

P’s new share = old share – sacrifice share

=2/3 – 1/15

=9/15

R’s new share = old share – sacrifice share

=1/3 – 2/15.

=3/15

there fore, partner new profit sharing ratio will be = 9:3:3

=3:1:1

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