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a and b who share profits in the ratio of 3:2admit c to give him 1/3rd share. calculate the new profit sharing ratio
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a and b who share profits in the ratio of 3:2admit c to give him 1/3...
Calculation of New Profit Sharing Ratio
Given:
a and b share profits in the ratio of 3:2
c is admitted to the partnership with 1/3rd share
Step 1: Find the total profit sharing ratio
To find the total profit sharing ratio, add the ratio of a and b's profit sharing ratio:
3 + 2 = 5
Step 2: Determine the share of the new partner
As c is given 1/3rd share, it means that c's profit sharing ratio is:
1/3 x 5 = 5/15 or 1/3
Step 3: Calculate the remaining share
The remaining share is the share of a and b, i.e., 2/3 or 10/15.
Step 4: Determine the new profit sharing ratio
The new profit sharing ratio can be calculated by dividing the remaining share in the ratio of a and b's profit sharing ratio:
a's new share = (3/5) x (10/15) = 2/5
b's new share = (2/5) x (10/15) = 2/5
Therefore, the new profit sharing ratio of a, b, and c is:
a:b:c = 2:2:1 or 4:4:2
Given:
a and b share profits in the ratio of 3:2
c is admitted to the partnership with 1/3rd share
Step 1: Find the total profit sharing ratio
To find the total profit sharing ratio, add the ratio of a and b's profit sharing ratio:
3 + 2 = 5
Step 2: Determine the share of the new partner
As c is given 1/3rd share, it means that c's profit sharing ratio is:
1/3 x 5 = 5/15 or 1/3
Step 3: Calculate the remaining share
The remaining share is the share of a and b, i.e., 2/3 or 10/15.
Step 4: Determine the new profit sharing ratio
The new profit sharing ratio can be calculated by dividing the remaining share in the ratio of a and b's profit sharing ratio:
a's new share = (3/5) x (10/15) = 2/5
b's new share = (2/5) x (10/15) = 2/5
Therefore, the new profit sharing ratio of a, b, and c is:
a:b:c = 2:2:1 or 4:4:2
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a and b who share profits in the ratio of 3:2admit c to give him 1/3...
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a and b who share profits in the ratio of 3:2admit c to give him 1/3rd share. calculate the new profit sharing ratio Related: Profit and Loss Appropriation Account - Class 12, Accountancy?
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