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X and Y are partners sharing profits in the ratio of 3:2. Z is admitted for 1/5 share. All partners have decided to share future profits equally. The profit of new partnership firm was Rs.30,000. This profit will be shared by all the partners in _______
- a)Old Ratio
- b)Gaining Ratio
- c)New Ratio
- d)Sacrificing Ratio
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
X and Y are partners sharing profits in the ratio of 3:2. Z is admitte...
Explanation:
Original Profit Sharing Ratio:
- X:Y = 3:2
Admission of Z:
- Z is admitted for 1/5 share
- New ratio after Z's admission = 3:2:1
Decision to Share Future Profits Equally:
- The new partnership firm has decided to share future profits equally among all partners.
Distribution of Profit:
- Total profit of the new partnership firm = Rs.30,000
- The profit will be distributed equally among the partners according to the new ratio after Z's admission.
Therefore, the profit of Rs.30,000 will be shared by all partners in the New Ratio, which is 3:2:1. Each partner will receive an equal share of the total profit.
Original Profit Sharing Ratio:
- X:Y = 3:2
Admission of Z:
- Z is admitted for 1/5 share
- New ratio after Z's admission = 3:2:1
Decision to Share Future Profits Equally:
- The new partnership firm has decided to share future profits equally among all partners.
Distribution of Profit:
- Total profit of the new partnership firm = Rs.30,000
- The profit will be distributed equally among the partners according to the new ratio after Z's admission.
Therefore, the profit of Rs.30,000 will be shared by all partners in the New Ratio, which is 3:2:1. Each partner will receive an equal share of the total profit.
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Community Answer
X and Y are partners sharing profits in the ratio of 3:2. Z is admitte...
Distribution of profit is to be done in new profit sharing ratio:
X = 30,000 × 1/3 = 10,000
Y = 30,000 × 1/3 = 10,000
Z = 30,000 × 1/3 = 10,000
X = 30,000 × 1/3 = 10,000
Y = 30,000 × 1/3 = 10,000
Z = 30,000 × 1/3 = 10,000
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X and Y are partners sharing profits in the ratio of 3:2. Z is admitted for 1/5 share. All partners have decided to share future profits equally. The profit of new partnership firm was Rs.30,000. This profit will be shared by all the partners in _______a)Old Ratiob)Gaining Ratioc)New Ratiod)Sacrificing RatioCorrect answer is option 'C'. Can you explain this answer?
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