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P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrifice
- a)P gains 1/12 th share and Q sacrifices 1/14 th share
- b)P gains 1/14 th share and Q sacrifices 1/14 th share
- c)P gains 1/10 th share and Q sacrifices 1/14 th share
- d)P gains 1/15th share and Q sacrifices 1/14 th share
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
P and Q are sharing profit and losses equally .With effects from curre...
Calculation of gain or sacrifice:
Formula : Old Share – New Share
P = 1/2 – 4/7 = 1/14 Gain
Q = 1/2 – 3/7 = 1/14 Sacrifice
Formula : Old Share – New Share
P = 1/2 – 4/7 = 1/14 Gain
Q = 1/2 – 3/7 = 1/14 Sacrifice
Most Upvoted Answer
P and Q are sharing profit and losses equally .With effects from curre...
's gain or loss.
Since P and Q were sharing profits and losses equally, their profit sharing ratio was 1:1.
After the change, the new profit sharing ratio is 4:3.
Let the total profit be x.
Earlier, P and Q shared the profit equally, so each of them got x/2.
Now, P will get 4/7 of the profit and Q will get 3/7 of the profit.
So, P's share will be 4/7 of x and Q's share will be 3/7 of x.
P's gain or loss = (P's new share - P's old share) = (4/7)x - (1/2)x = (8x - 7x)/14 = x/14
Similarly, Q's gain or loss = (Q's new share - Q's old share) = (3/7)x - (1/2)x = (6x - 7x)/14 = -x/14
Therefore, P gains x/14 and Q loses x/14 after the change in profit sharing ratio.
Since P and Q were sharing profits and losses equally, their profit sharing ratio was 1:1.
After the change, the new profit sharing ratio is 4:3.
Let the total profit be x.
Earlier, P and Q shared the profit equally, so each of them got x/2.
Now, P will get 4/7 of the profit and Q will get 3/7 of the profit.
So, P's share will be 4/7 of x and Q's share will be 3/7 of x.
P's gain or loss = (P's new share - P's old share) = (4/7)x - (1/2)x = (8x - 7x)/14 = x/14
Similarly, Q's gain or loss = (Q's new share - Q's old share) = (3/7)x - (1/2)x = (6x - 7x)/14 = -x/14
Therefore, P gains x/14 and Q loses x/14 after the change in profit sharing ratio.
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P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrificea)P gains 1/12 th share and Q sacrifices 1/14 th shareb)P gains 1/14 th share and Q sacrifices 1/14 th sharec)P gains 1/10 th share and Q sacrifices 1/14 th shared)P gains 1/15th share and Q sacrifices 1/14 th shareCorrect answer is option 'B'. Can you explain this answer?
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P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrificea)P gains 1/12 th share and Q sacrifices 1/14 th shareb)P gains 1/14 th share and Q sacrifices 1/14 th sharec)P gains 1/10 th share and Q sacrifices 1/14 th shared)P gains 1/15th share and Q sacrifices 1/14 th shareCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrificea)P gains 1/12 th share and Q sacrifices 1/14 th shareb)P gains 1/14 th share and Q sacrifices 1/14 th sharec)P gains 1/10 th share and Q sacrifices 1/14 th shared)P gains 1/15th share and Q sacrifices 1/14 th shareCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrificea)P gains 1/12 th share and Q sacrifices 1/14 th shareb)P gains 1/14 th share and Q sacrifices 1/14 th sharec)P gains 1/10 th share and Q sacrifices 1/14 th shared)P gains 1/15th share and Q sacrifices 1/14 th shareCorrect answer is option 'B'. Can you explain this answer?.
P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrificea)P gains 1/12 th share and Q sacrifices 1/14 th shareb)P gains 1/14 th share and Q sacrifices 1/14 th sharec)P gains 1/10 th share and Q sacrifices 1/14 th shared)P gains 1/15th share and Q sacrifices 1/14 th shareCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrificea)P gains 1/12 th share and Q sacrifices 1/14 th shareb)P gains 1/14 th share and Q sacrifices 1/14 th sharec)P gains 1/10 th share and Q sacrifices 1/14 th shared)P gains 1/15th share and Q sacrifices 1/14 th shareCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrificea)P gains 1/12 th share and Q sacrifices 1/14 th shareb)P gains 1/14 th share and Q sacrifices 1/14 th sharec)P gains 1/10 th share and Q sacrifices 1/14 th shared)P gains 1/15th share and Q sacrifices 1/14 th shareCorrect answer is option 'B'. Can you explain this answer?.
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ample number of questions to practice P and Q are sharing profit and losses equally .With effects from current year they decided to share profits in the ratio of 4:3.Calculate individual partner’s gain and Sacrificea)P gains 1/12 th share and Q sacrifices 1/14 th shareb)P gains 1/14 th share and Q sacrifices 1/14 th sharec)P gains 1/10 th share and Q sacrifices 1/14 th shared)P gains 1/15th share and Q sacrifices 1/14 th shareCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Commerce tests.
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