Read the following hypothetical text answer the questions follows:
Sachin and Saurav started a partnership of manufacturing garments under the firm's name" SS Unique Enterprise". They started business with the capital of Rs 5,80,000 and Rs 4,20,000 respectively and shared the profits and losses in the ratio 1:1. Seeing tremendous growth of their business, one of their friends, Virat proposed to join their firm as a partner. However after careful analysis of Virat"s financial solvency, they decided to admit him as a partner for one third share of profit and he to bring Rs 2,80,000 as capital and Rs 70,000 as Premium for Goodwill .At the time of admission it was notified that goodwill appeared in the existing Balance Sheet at an agreed amount of Rs 50,000, it was further notified that General Reserve and workmen compensation too appeared in the Balance Sheet at Rs 40,000 and Rs 30,000 respectively. With reference to above case study answer the questions: A. The new profit sharing ratio among all the partners will be:
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ff
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56
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