Question

Q. 4
L, M and N are partners sharing profits in the ratio of 3:2:1. They admit o in the partnership . O brings in
cash Rs4,50,000as Capital and Rs 1,50,000as goodwill for 1/5th share of profits. What will be the new profit
sharing ratio.
(a) 6: 4:2:3
(b) 6: 4:2:2
(c) 2:4: 3:1
(d) 6: 4: 3:2
(1)​

Answer 1

Explanation:

firm s share= 1

o's share=1/5

l,m,n share= 1-1/5=4/5

l sacrifice ratio=4/5×3/6=9/30

m sacrifice ratio =4/5×2/6=14/30

n sacrifice ratio =4/5×1/6=19/30