Question

1. K and I are equal partners. They admitted M for-th 1 4 share in future profits. New profit sharing ratio will be (a) 2:2:1 (b) 3:3:1 (c) 3:3:2 (d) None of these​

Answer 1

Answer:

★ Appropriate Question :

1. K and L are equal partners. They admitted M for 1 /4th share in future profits. New profit sharing ratio will be (a) 2:2:1 (b) 3:3:1 (c) 3:3:2 (d) None of these

Explanation:

Solution :

★ Old Ratio :

K : L = 1 : 1

• K's Share = 1/2
• L's Share = 1/2

They admitted M for 1/4th share in future profits.

• M's Share = 1/4

Let,

Total Profit of all Partners in the firm = 1

So,

• M's Share = 1/4

Remaining Share =

1 - 1/4 = 3/4

★ New Profit Sharing Ratio :

• K's New Share =

⇒ 3/4 × 1/2 = 3/8

• L's New Share =

⇒ 3/4 × 1/2 = 3/8

• M's New Share =

⇒ 1/4 = (1×2)/(4×2) = 2/8

New Profit Sharing Ratio =

• K : L : M
• 3/8 : 3/8 : 2/8

⇒ 3 : 3 : 2

Therefore, Option = (c) 3:3:2

New profit sharing ratio will be 3 : 3 : 2

Answer 2

Answer:

c. 3:3:2

Explanation: