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12th | Retirement of a Partner | Question No.  6 To 10 | Ts Grewal Solution 2022-2023

Question 6:


(a) W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y retires and W, X and Z decide to share the profits and losses equally in future.
Calculate gaining ratio.
(b) A, B and are partners sharing profits and losses in the ratio of 4: 3: 2. C retires from the business. A is acquiring 4/9 of C's share and balance is acquired by B. Calculate the new profit-sharing ratio and gaining ratio.

 

Answer:


(a)

Old Ratio (W, X, Y and Z) = of 1/3;1/6: 1/3;1/6 or 2 : 1 : 2 : 1

New Ratio (W, X and Z) = 1 : 1 : 1

Gaining Ratio = New Ratio − Old Ratio

W's Gain=1/3-2/6=2-2/6=0/6

X's Gain=1/3-1/6=2-1/6=1/6

Z's Gain=1/3-1/6=2-1/6=1/6                 

Gaining Ratio = 0: 1: 1

 

(b)

Old Ratio (A, B and C) = 4: 3: 2

C’s Profit Share =2/9

A acquires 4/9 of C’s Share and remaining share is acquired by B.

Share acquired by A=2/9×4/9=8/81

Share acquired by B=C’s share- Share acquired by A=2/9-8/81=10/81

New Profit Share = Old Profit Share + Share acquired from C

A’s new share=4/9+8/81=36+8/81=44/81

B’s new share=3/9+10/81=27+10/81=37/81

New Profit Ratio A and B = 44: 37

Gaining Ratio = New Ratio − Old Ratio

A's Gain=44/81-4/9=44-36/81=8/81

B's Gain=37/81-3/9=37-27/81=10/81

Gaining Ratio = 8: 10 or 4: 5

 

Question 7:


Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3 : 2 : 1 : 4. Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of 3 : 2. Calculate new profit-sharing ratio and gaining ratio of the remaining partners.

 

Answer:


Kumar's share=3/10acquired by Lakshya and Manoj in 3:2

Share acquired by Lakshya=3/10×3/5=9/50

Share acquired by Manoj=3/10×2/5=6/50

Lakshya's New Share=2/10+9/50=19/50

Manoj's New Share=1/10+6/50=11/50

Naresh's share (as retained)=4/10 or 20/50

New Profit Sharing Ratio=19:11:20
Gaining Ratio = 3:2 (as given in the question)

 

Question 8:


A, B, and C were partners in a firm sharing profits in the ratio of 8 : 4 : 3. B retires and his share is taken up equally by A and C. Find the new profit-sharing ratio.

 

Answer:


Old Ratio (A, B and C) = 8 : 4 : 3

B retires from the firm.

His profit share = 4/15

B’s share taken by A and C in ratio of 1: 1

Share taken by A: 4/15×1/2=2/15

Share taken by C: 4/15×1/2=2/15

New Ratio = Old Ratio + Share acquired from B

A's New Share: 8/15+2/15=10/15=2/3

C's New Share: 3/15+2/15=5/15=1/3

 New Profit Ratio (A and C) = 2: 1

 

Question 9:


A, B, and C are partners sharing profits in the ratio of 5: 3: 2. C retires and his share is taken by A. Calculate new profit-sharing ratio of A and B.

 

Answer:


Old Ratio (A, B and C) = 5: 3: 2

C retires from the firm.

His profit share = 210

C’s share is taken by A in entirety

New Ratio = Old Ratio + Share acquired from C

A's New Share: 5/10+2/10=7/10

B's New Share: 3/10+0=310

 New Profit Ratio (A and B) = 7: 3

Question 10:


Murli, Naveen and Omprakash are partners sharing profits in the ratio of 3/8, 1/2 and 1/8. Murli retires and surrenders 2/3rd of his share in favour of Naveen and remaining share in favour of Omprakash. Calculate new profit-sharing ratio and gaining ratio of the remaining partners.

 

Answer:


Old Ratio=3:4:1

 

Murli's share=3/8

Share acquired by Naveen=3/8×2/3=2/8

 

Remaining Share=3/8−2/8=1/8 (acquired by Omprakash)

Gaining Ratio=28:18=2:1

 

Naveen's New Share=4/8+2/8=6/8

Omprakash's New Share=1/8+1/8=2/8

New Profit Sharing Ratio=3:1

 

Ts Grewal Solution 2022-2023

Click below for more Questions

Class 12 / Volume – I

Chapter 1 – Retirement of a Parnter

 

Question No. 1 To 5
Question No. 6 To 10
Question No. 11 To 15
Question No. 16 To 20
Question No. 21 To 25
Question No. 26 To 30
Question No. 31 To 35
Question No. 36 To 40
Question No. 41 To 45
Question No. 46 To 50
Question No. 51 To 55

Question No. 56 To 59

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12th TS Grewal’s Accountancy Solutions

Ts Grewal Solution 2022-2023

Ts Grewal Solution 2021-2022

Ts Grewal Solution 2020-2021