Question 16:
Rajan and Mukul are partners sharing profits and losses in the ratio of 4 :1. They admit Mayank and decide that the profit-sharing ratio between Mukul and Mayank be the same as existing between Rajan and Mukul.
Calculate the New Profit-sharing Ratio and the Sacrificing Ratio.
Answer:
Rajan and Mukul are sharing profits and losses in the ratio of 4 : 1.
On admission of Mayank, it is decided that the profit-sharing ratio between Mukul and Mayank will be the same as the existing ratio between Rajan and Mukul, i.e., 4 : 1.
Therefore,
Mukul : Mayank = 4 : 1
Since Rajan's share is 4 times Mukul's share,
Rajan : Mukul : Mayank = 4 × 4 : 4 × 1 : 1
= 16 : 4 : 1
New Profit-sharing Ratio
Rajan : Mukul : Mayank = 16 : 4 : 1
Sacrificing Ratio
Since there is no change in the relative shares of Rajan and Mukul, they sacrifice their shares in their existing profit-sharing ratio.
Sacrificing Ratio (Rajan : Mukul) = 4 : 1
New Profit-sharing Ratio = 16 : 4 : 1
Sacrificing Ratio = 4 : 1
Question 17:
Amit and Vidya are partners sharing profits in the ratio of 3 : 2. They admit Chintan into partnership who acquires 1/5th of his share from Amit and 4/25th share from Vidya. Calculate New Profit-sharing Ratio and Sacrificing Ratio.
Answer:
Calculation of New Profit Sharing Ratio
Amit: Vidya=3:2 (Old Ratio)
Chintan acquires 1/5th of his share from Amit And,
Remaining 4/5th (1−1/5) of his share from Vidya.
If 4/5th share of Chintan =4/25
Chintan 's share=4/25×54=5/25
Amit 's sacrifice=1/5×1/5=1/25
Vidya 's sacrifice=4/25
Amit 's new share=3/5−1/25=1/5−1/25=14/25
Vidya 's new share=2/5−4/25=10−4/25=6/25
Chintan 's new share=1/5×5/5=5/25
Amit:Vidya:R=14:6:5
Sacrificing Ratio=1:4
Question 18:
Anil and Bimal are partners. They admit Raman as a partner for 1/4 share.
You are required to determine:
(a) Profit-sharing ratio between Anil and Bimal before Raman's admission as a partner.
(b) Profit-sharing ratio after Raman's admission; and
(c) Sacrificing Ratio.
Answer:
(a) Profit-sharing ratio between Anil and Bimal before Raman's admission as a partner.
Since no ratio is given in the Question, Profit-sharing ratio between Anil and Bimal before Raman's admission as a partnerwill be equal
Profit-sharing ratio = 1:1
(b) Profit-sharing ratio after Raman's admission
Profit share of Raman as a partner for 1/4
Left after Profit share of Raman = 1-1/4= 3/4
Calculation of profit share in remaining profit
|
Jiten |
= |
3/4 |
× |
1/2 |
= |
3/8 |
|
Rajiv |
= |
¾ |
× |
1/2 |
= |
3/8 |
Calculation of New profit sharing ratio
|
Jiten |
: |
Rajiv |
: |
Raman |
|
|
|
3/8 |
: |
3/8 |
: |
1/4 |
|
|
|
3/8 |
: |
3/8 |
: |
2/8 |
|
|
New ratio= 3:3:2
(c) Sacrificing Ratio.
|
Jiten |
= |
1/2 |
- |
3/8 |
= |
4-3/8 |
= |
1/8 |
|
Rajiv |
= |
1/2 |
- |
3/8 |
= |
4-3/8 |
= |
1/8 |
Sacrificing ratio= 1:1
Question 19:
Sana and Rajesh were partners in a firm sharing profits and losses in the ratio of 4:3. They admitted Sonu into partnership for 1/5th share in the profits of the firm. Goodwill of the firm was to be valued at three years' purchase of Super Profits. Average net profit of the firm was ₹ 80,000. Capital Employed in the business was ₹ 2,00,000 and Normal Rate of Return was 10%.
Calculate the amount of goodwill premium brought by Sonu.
(CBSE 2025)
Answer:
Capital Employed = ₹ 2,00,000
Normal Rate of Return (NRR) = 10%
Calculation of Normal Profit
Normal Profit = Capital Employed × NRR
= ₹ 2,00,000 × 10/100
= ₹ 20,000
Calculation of Super Profit
Super Profit = Average Profit − Normal Profit
= ₹ 80,000 − ₹ 20,000
= ₹ 60,000
Calculation of Goodwill
Goodwill = Super Profit × Number of Years' Purchase
= ₹ 60,000 × 3
= ₹ 1,80,000
Value of Firm's Goodwill = ₹ 1,80,000
Sonu's Share of Goodwill
Sonu's Share in Profits = 1/5
Sonu's Share of Goodwill
= ₹ 1,80,000 × 1/5
= ₹ 36,000
Final Answer
Value of Firm's Goodwill = ₹ 1,80,000
Goodwill Premium Brought by Sonu = ₹ 36,000
Question 20:
Vimal and Nirmal are partners in a firm sharing profits and losses in the ratio of 3: 2. A new partner Kailash is admitted. Vimal gives 1/5th of his share and Nirmal gives 2/5th of his share in favour of Kailash. For the purpose of Kailash's admission, goodwill of the firm is valued at 75,000 and Kailash brings his share of goodwill in cash which is retained in the business. Journalise the above transactions.
Answer:
Old Ratio of Vimal and Nirmal is 3:2
Share of Profits Kailash will get from Vimal 1/5th of his share 3/5
= 3/5×1/5=3/25
Share of Profits Kailash will get from Nirmal 2/5th of his share 2/5
= 2/5×2/5=4/25
Remaining of –
Vimal = 3/5 - 3/25 = 12/25
Nirmal= 2/5 - 4/25 = 6/25
Share of Kailash= 3/25 + 4/25=3+4/25=7/25
New Profit sharing ratio of Vimal, Nirmal and Kailash= 12/25 : 6/25 : 7/25
Kailash brings his share of goodwill in cash =75,000 × 7/25 = 21,000
Vimal and Nirmal will be compensated in sacrificing =3:4
Vimal =21,000×3/7=9,000
Nirmal =21,000×4/7=12,000
Journal Entry for Goodwill:
|
|
Bank A/c To Premium for Goodwill A/c (Being Goodwill brought in Cash) |
Dr.
Dr. |
21,000
21,000 |
21,000
21,000 |
|
Premium for Goodwill A/c To Vimal’s Capital A/c To Nirmal Capital A/c (Being partners compensated in sacrificing ratio 3:4) |
Ts Grewal Solution 2026-2027
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Class 12 / Volume – I