A,B andC are partners sharing profit in the ratio 1/2:1/3:1/6 find out the new ratio if B retires
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X, Y and Z are partners. The partnership agreement is silent. State whether the firm is dissolved on 31.03.99 in each of the following alternative cases:
case (a): If the firm was constituted for 5 years and 5 years have expired on 31.03.99.
Case (b): If the firm was constituted for completion of a construction of a bridge and the construction completed on 31.03.99.
Case (C): If X died on 31.03.99.
Case (d): If X applies for insolvency on 31.03.99 and is declared insolvent on 30.04.99.
Case (e): If X retires on 31.03.99.
Case (f): If X is expelled as partner on 31 03.99 and the expulsion is invalid.
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Hello!!
>>Old ratio (A, B and C) = 1/2 : 1/3 : 1/6 or 3 : 2 : 1
>>New ratio (A and C) = 3 : 2
>>Gaining ratio = New ratio - Old ratio
>>A's gain = (3/5) - (3/6) = 3/30 or 1/10
>>C's gain - (2/5) = (1/6) = 7/30
>>Therefore, gaining ratio of A and C = 3 : 7
Explanation:
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