Question

X and Y entered into partnership on 01/04/16. On 01/01/17 they admitted Z as a
new partner for 1/6th share in the profits which he acquired equally from X and Y.
The new profit sharing ratio of X,Y and Z was 3:2:1. Calculate the profit sharing ratio
of X and Y at the time of forming the partnership:
(a) 5:3 (b) 3:5 (c) 5:7 (d) 7:5​

Answer 1

Answer:

X sacrifice = 1/6×1/2=1/12

Y sacrifice = 1/6×1/2=1/12

sacrifice ratio = old ratio - new ratio

X = 1/12 = old share - 3/6

1/12+3/6= ,old share

1+6/12= old share

old share of X is 7/12

sacrifice ratio = old ratio - new ratio

Y

1/12 = old share - 2/6

1/12+2/6= old share

1+4/12=old share

old share of Y is 5/12

X: Y

7:5