sharing profits and losses in the ratio 5:3. Z is admitted who acquires 1/3rd of Y's share. The new ratio among part partners will be
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X and Y are partners sharin...
ACCOUNTANCY
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Asked on December 26, 2019 by
Barsha Chavara
X and Y are partners sharing profits and losses in the ratio of 3:2. They admit Z into partnership. X gives 1/3
rd
of his share while Y gives 1/10
th
from his share to Z. calculate new profit-sharing and sacrificing ratio.
ANSWER
X's old share= 3/5
Y's old share= 2/5
Z is admitted as a partner.
X's sacrifice= 3/5 * 1/3
= 3/15
Y's sacrifice= 1/10
Therefore, Z's share= 3/15 + 1/10
= 9/30
X's new share= 3/5- 3/15
= 6/15
Y's new share= 2/5- 1/10
= 3/10
New profit sharing ratio= 4:3:3
Sacrificing ratio= 2:1
Explanation:
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