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*. X and Y are partners in a firm sharing profits in the ratio of 2:1. Z is admitted with a 1/3 share in profits. What will be the new profit sharing ratio of X, Y and Z? (a) 3:3:3 (b) 4:3:2 (c) 4:2:3 (d) 2:3:4?
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*. X and Y are partners in a firm sharing profits in the ratio of 2:1....
Solution:

Given:
- X and Y share profits in the ratio of 2:1
- Z is admitted with a 1/3 share in profits

Step 1: Calculate the new profit sharing ratio of X, Y, and Z

Let the total profit be P.
Then, X's share = 2/3P
Y's share = 1/3P
Z's share = 1/3P

Adding Z's share to X and Y's share, we get:
X's new share = 2/3P + 1/3P*(1/3) = 7/9P
Y's new share = 1/3P + 1/3P*(1/3) = 4/9P
Z's new share = 1/3P*(2/3) = 2/9P

Step 2: Simplify the ratio

X:Y:Z = (7/9P)/(4/9P):(4/9P)/(4/9P):(2/9P)/(4/9P)
= 7:4:2/4
= 7:4:1

Therefore, the new profit sharing ratio of X, Y, and Z is 7:4:1.

Answer: (c) 4:2:3
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*. X and Y are partners in a firm sharing profits in the ratio of 2:1. Z is admitted with a 1/3 share in profits. What will be the new profit sharing ratio of X, Y and Z? (a) 3:3:3 (b) 4:3:2 (c) 4:2:3 (d) 2:3:4?
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*. X and Y are partners in a firm sharing profits in the ratio of 2:1. Z is admitted with a 1/3 share in profits. What will be the new profit sharing ratio of X, Y and Z? (a) 3:3:3 (b) 4:3:2 (c) 4:2:3 (d) 2:3:4? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about *. X and Y are partners in a firm sharing profits in the ratio of 2:1. Z is admitted with a 1/3 share in profits. What will be the new profit sharing ratio of X, Y and Z? (a) 3:3:3 (b) 4:3:2 (c) 4:2:3 (d) 2:3:4? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for *. X and Y are partners in a firm sharing profits in the ratio of 2:1. Z is admitted with a 1/3 share in profits. What will be the new profit sharing ratio of X, Y and Z? (a) 3:3:3 (b) 4:3:2 (c) 4:2:3 (d) 2:3:4?.
Solutions for *. X and Y are partners in a firm sharing profits in the ratio of 2:1. Z is admitted with a 1/3 share in profits. What will be the new profit sharing ratio of X, Y and Z? (a) 3:3:3 (b) 4:3:2 (c) 4:2:3 (d) 2:3:4? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
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