Question

X and Y are partners Sharing profits in 2:1 ratio. They admit z' with 1/4 share in profits into partnership Calculate new profit Sharing ratio
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Answer 1

Explanation:

X:Y opsr 2:1 Z 1/4

let the total share of firm = 1

remaining share of others z = 1/4

1/1-1/4 = 3/4

new share of X= 3/4×2/3 = 6/12

new share of y = 3/4×1/3 = 3/12

new share of z = 1/4×3/3 = 3/12

3:1:1 ans