calculate new profit sharing ratio of 1/2,1/3,1/6
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When a new partner is added to the firm or business, there is change in the share of the existing partners.
The ratio in which all the partners existing and the incoming partner will share the profit and losses in future is known as new profit sharing ratio.
The new profit sharing ratio of 1/2,1/3,1/6 is 2:3:6.
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