Question

2 40) A, B and C are partners in a firm sharing profits and losses in the ratio of 3:4:2.B retires from the firm.The profit on revaluation on that date was 72000. New ratio between A and C is 5:3 . Profit on revaluation Will be distributed as_
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Answer 1

Answer:

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Explanation:

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Answer 2

Given:

• A, B and C are partners in a firm, sharing profits and losses in the ratio 3:4:2.
• B retires from the firm.
• The profit on revaluation on that date was Rs 72,000.
• The new ratio between A and C is 5:3.

To find: The profit distribution.

Answer:

• A's old ratio = 3/9
• B's old ratio 4/9
• C's old ratio = 2/9

• A's new ratio = 5/8
• C's new ratio = 3/8

Since the new ratio has already been decided and provided to us, there isn't a need for much calculation. The profit on revaluation will be distributed in the old profit-sharing ratio.

Calculation of profit distribution:

Since they were previously sharing profits and losses in the ratio 3:4:2, it will be distributed accordingly.

For A:

• Profit share = Rs 72,000 × 3/9 = Rs 24,000

For B:

• Profit share = Rs 72,000 × 4/9 = Rs 32,000

For C:

• Profit share = Rs 72,000 × 2/9 = Rs 16,000

Therefore, the profit distribution for A, B and C is Rs 24,000, Rs 32,000 and Rs 16,000 respectively.