X and Y are partners in the ratio of 3 ; 2 respectively. They admit Z as a new partner
for 5 th share in firms profits. Z acquires his share from X and Y in equally. Calculate
the profit sharing ratio of all partners
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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
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