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A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.
- a)8,000:2,000
- b)5,000:5,000
- c)Old partners will not get any share in the goodwill brought in by C
- d)6,000:4,000
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
A and B are partners sharing the profit the ratio of 3:2. They take C ...
And B?
First, we need to find the new total capital after C joins:
Total capital = A's capital + B's capital + C's capital
C's capital = Rs. 25,000 (given)
C's goodwill = Rs. 10,000 (given)
Total capital = A's capital + B's capital + Rs. 25,000 + Rs. 10,000
Total capital = A's capital + B's capital + Rs. 35,000
Next, we can find the new profit:
Let the new profit be x
Old profit of A = 3/5 * x
Old profit of B = 2/5 * x
Total old profit = 3/5 * x + 2/5 * x = x
New profit sharing ratio is 1:1:1, so each partner gets 1/3 of the profit:
A's share = 1/3 * x
B's share = 1/3 * x
C's share = 1/3 * x
Now we can set up an equation based on the new profit sharing ratio:
A's share of profit / B's share of profit = 3/2
A's share of profit / (2/5 * x) = 3/2
A's share of profit = (3/2) * (2/5) * x
A's share of profit = 3/5 * x
B's share of profit = (2/5) * x
We know that A and B's total share of profit is equal to their old profit:
A's share of profit + B's share of profit = Total old profit
3/5 * x + 2/5 * x = x
5/5 * x = x
x = x
Therefore, the new profit is equal to the old profit.
Now we can find the amount that each partner gets:
A's share = A's share of profit + A's old profit
A's share = 3/5 * x + 3/5 * x
A's share = 6/5 * x
B's share = B's share of profit + B's old profit
B's share = 2/5 * x + 2/5 * x
B's share = 4/5 * x
C's share = C's share of profit
C's share = 1/3 * x
Finally, we can express the amounts in the ratio of A:B:
A:B = 6/5 * x : 4/5 * x
A:B = 6:4
A:B = 3:2
Therefore, the amount will be shared among the old partners A and B in the ratio of 3:2.
First, we need to find the new total capital after C joins:
Total capital = A's capital + B's capital + C's capital
C's capital = Rs. 25,000 (given)
C's goodwill = Rs. 10,000 (given)
Total capital = A's capital + B's capital + Rs. 25,000 + Rs. 10,000
Total capital = A's capital + B's capital + Rs. 35,000
Next, we can find the new profit:
Let the new profit be x
Old profit of A = 3/5 * x
Old profit of B = 2/5 * x
Total old profit = 3/5 * x + 2/5 * x = x
New profit sharing ratio is 1:1:1, so each partner gets 1/3 of the profit:
A's share = 1/3 * x
B's share = 1/3 * x
C's share = 1/3 * x
Now we can set up an equation based on the new profit sharing ratio:
A's share of profit / B's share of profit = 3/2
A's share of profit / (2/5 * x) = 3/2
A's share of profit = (3/2) * (2/5) * x
A's share of profit = 3/5 * x
B's share of profit = (2/5) * x
We know that A and B's total share of profit is equal to their old profit:
A's share of profit + B's share of profit = Total old profit
3/5 * x + 2/5 * x = x
5/5 * x = x
x = x
Therefore, the new profit is equal to the old profit.
Now we can find the amount that each partner gets:
A's share = A's share of profit + A's old profit
A's share = 3/5 * x + 3/5 * x
A's share = 6/5 * x
B's share = B's share of profit + B's old profit
B's share = 2/5 * x + 2/5 * x
B's share = 4/5 * x
C's share = C's share of profit
C's share = 1/3 * x
Finally, we can express the amounts in the ratio of A:B:
A:B = 6/5 * x : 4/5 * x
A:B = 6:4
A:B = 3:2
Therefore, the amount will be shared among the old partners A and B in the ratio of 3:2.
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Community Answer
A and B are partners sharing the profit the ratio of 3:2. They take C ...
The total capital brought in by C is Rs. 35,000 (Rs. 25,000 against capital and Rs. 10,000 against goodwill). Therefore, the new total capital of the partnership is (3+2+1) x Rs. 35,000 = Rs. 2,10,000.
Let's first calculate the new share of C in the profit. Since the new profit sharing ratio is 1:1:1, C's share is 1/3 of the total profit.
C's share of profit = (1/3) x Total profit
We know that C's total capital is Rs. 35,000. Therefore, the average profit on C's capital is given by:
Average profit on C's capital = C's share of profit / C's total capital
Average profit on C's capital = [(1/3) x Total profit] / Rs. 35,000
Let's now calculate the total profit of the partnership:
Total profit = New ratio total x Total capital
Total profit = 3 x Rs. 35,000
Total profit = Rs. 1,05,000
Substituting this value in the above equation, we get:
Average profit on C's capital = [(1/3) x Rs. 1,05,000] / Rs. 35,000
Average profit on C's capital = Rs. 35,000 / Rs. 35,000
Average profit on C's capital = 1
This means that C's share of profit is Rs. 35,000 (1/3 of Rs. 1,05,000).
Now, let's calculate the new share of A and B in the profit. Since the new profit sharing ratio is 1:1:1, their new share is also 1/3 of the total profit each.
A's new share of profit = (1/3) x Total profit
A's new share of profit = (1/3) x Rs. 1,05,000
A's new share of profit = Rs. 35,000
B's new share of profit = (1/3) x Total profit
B's new share of profit = (1/3) x Rs. 1,05,000
B's new share of profit = Rs. 35,000
So, the new profit sharing ratio is 1:1:1, which means that all three partners will share the profit equally. Therefore, the profit of Rs. 1,05,000 will be shared in the ratio of 1:1:1 among A, B, and C.
A's share = (1/3) x Rs. 1,05,000 = Rs. 35,000
B's share = (1/3) x Rs. 1,05,000 = Rs. 35,000
C's share = (1/3) x Rs. 1,05,000 = Rs. 35,000
Therefore, the amount will be shared among the old partners A and B in the ratio of 1:1, which means that they will each get Rs. 35,000.
Let's first calculate the new share of C in the profit. Since the new profit sharing ratio is 1:1:1, C's share is 1/3 of the total profit.
C's share of profit = (1/3) x Total profit
We know that C's total capital is Rs. 35,000. Therefore, the average profit on C's capital is given by:
Average profit on C's capital = C's share of profit / C's total capital
Average profit on C's capital = [(1/3) x Total profit] / Rs. 35,000
Let's now calculate the total profit of the partnership:
Total profit = New ratio total x Total capital
Total profit = 3 x Rs. 35,000
Total profit = Rs. 1,05,000
Substituting this value in the above equation, we get:
Average profit on C's capital = [(1/3) x Rs. 1,05,000] / Rs. 35,000
Average profit on C's capital = Rs. 35,000 / Rs. 35,000
Average profit on C's capital = 1
This means that C's share of profit is Rs. 35,000 (1/3 of Rs. 1,05,000).
Now, let's calculate the new share of A and B in the profit. Since the new profit sharing ratio is 1:1:1, their new share is also 1/3 of the total profit each.
A's new share of profit = (1/3) x Total profit
A's new share of profit = (1/3) x Rs. 1,05,000
A's new share of profit = Rs. 35,000
B's new share of profit = (1/3) x Total profit
B's new share of profit = (1/3) x Rs. 1,05,000
B's new share of profit = Rs. 35,000
So, the new profit sharing ratio is 1:1:1, which means that all three partners will share the profit equally. Therefore, the profit of Rs. 1,05,000 will be shared in the ratio of 1:1:1 among A, B, and C.
A's share = (1/3) x Rs. 1,05,000 = Rs. 35,000
B's share = (1/3) x Rs. 1,05,000 = Rs. 35,000
C's share = (1/3) x Rs. 1,05,000 = Rs. 35,000
Therefore, the amount will be shared among the old partners A and B in the ratio of 1:1, which means that they will each get Rs. 35,000.
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A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer?
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A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer?.
A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer?.
Solutions for A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12.
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A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer?, a detailed solution for A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A and B are partners sharing the profit the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000b)5,000:5,000c)Old partners will not get any share in the goodwill brought in by Cd)6,000:4,000Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Class 12 tests.
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