# Admission of a partner-Important Questions-1

1. Calculation the new profit sharing ratio and sacrificing ratio

3. Revaluation of assets and reassessment of liabilities;

4. Accounting treatment of undistributed profits and reserves;

7. Adjustment of Deferred revenue Expenditure

9. Prepare Partners’ Capital Accounts and balance sheet of the reconstituted firm.

10. Adjustment of Capital on the basis of new partner capital or New profit-sharing Ratio.

11. Calculation of New partner’s capital on the basis of old partner’s adjusted capital.

## 1. Calculation the new profit sharing ratio and Sacrificing ratio:

Question 1.

Ram and Shyam are partners in a firm sharing profits in the ratio of 3 : 2. They admit Sohan as a new partner for 1/5 share in profit. Calculate the new profit sharing ratio and sacrificing ratio.

Solution:

Calculation of New Ratio:

Let total Profit = 1

Sohan’s admitted as a new partner for  1/5 share of profit

The remaining share of Ram and Shyam = 1 – 1/5 = 4/5

Ram’s new share = 3/5 of 4/5 i.e. 12/25

Shyam’s new share = 2/5 of 4/5 i.e. 8/25

Sohan’s Share = 1/5  Or 5/25

The new profit sharing ratio of Ram, Shyam, and Mohan is :

= 12/25 : 8/25 : 5/25

= 12 : 8 : 5

Calculation of Sacrifice Ratio:

Sacrificing ratio =Old Ratio – New Ratio

Ram Sacrificed   = 3/5 – 12/25

= 15 – 12/25

= 3/25

Shyam Sacrificed = 2/5 – 8/25

= 10 – 8/25

= 2/25

Sacrificing Ratio of Ram and Shyam = 3 : 2

Question 2.

Jay and Vijay are partners in a firm sharing profits in the ratio of 3 : 2. They admit Sanjay as a new partner for 1/4 share in profit. Calculate the new profit sharing ratio and sacrificing ratio.

Solution:

Calculation of New Ratio:

Let total Profit = 1

Sanjay admitted as a new partner for  1/4 share of the profit

The remaining share of Jay and Vijay = 1 – 1/4 = 3/4

Jay’s new share = 3/5 of 3/4 i.e. 9/20

Vijay’s new share = 2/5 of 3/4 i.e. 6/20

Sanjay’s Share = 1/4  Or 5/20

The new profit-sharing ratio of Jay, Vijay, and Sanjay are:

= 9/20 : 6/20 : 5/20

= 9 : 6 : 5

Calculation of Sacrifice Ratio:

Sacrificing ratio =Old Ratio – New Ratio

Jay Sacrificed   = 3/5 – 9/20

= 12 – 9/20

= 3/20

Vijay Sacrificed = 2/5 – 6/20

= 8 – 6/20

= 2/20

Sacrificing Ratio of Jay and Vijay = 3 : 2

Question 3.

A and B are partners in a firm sharing profit and losses in the ratio of 3 : 2. C is admitted for 1/5th share in profits of the firm.

Calculate new profit sharing ratio; if—

(a)C gets his share equally from A and B.

(b)C gets it from A and B in the ratio of 2 : 1.

(c)C gets it 3/20 from A and 1/20 from B.

(d) C gets it wholly from A

Solution:

Question 4.

X and Y are partners sharing profit in the ratio 3 : 2. They admit Z as a new partner. X surrendered 1/4th of his share in favour of Z and Y surrendered 3/4th of his share in favour of Z.
Calculate  New profit sharing ratio X, Y, Z and  Sacrificing ratio.

Solution:

Old Ratio of X and Y 3:2

Z admitted as a new partner

X surrenders 1/4 of his share in factor of Z=1/4 of 3/5 Or 3/20

Y surrenders 3/4 of his share in factor of Z=3/4 of 2/5 Or 6/20

X’s New share =3/5-3/20 or 12 -3/20 = 9/20

Y’s New share =2/5-6/20 or 8 -6/20 = 2/20

Z’s  share = 3/20+6/20=9/20

The new profit sharing ratio of X, Y, and Z is :

= 9/20 : 2/20 : 9/20

= 9 : 2 : 9

Calculation of Sacrifice Ratio:

Sacrificing ratio =Old Ratio – New Ratio

X Sacrificed   = 3/5 – 9/20

= 12 – 9/20

= 3/20

Y Sacrificed = 2/5 – 2/20

= 8 – 2/20

= 6/20

Sacrificing Ratio of Ram and Shyam = 3 : 6 Or 1:2

Question 5.

X and Y are partners sharing profit and losses in the ratio 3 : 2. They admit Z into the partnership, who acquires 1/4th of his share from X and 3/16th share from Y.
Calculate New Profit Sharing Ratio and Sacrificing Ratio.

Solution:

Question 6.

X and Y are partners sharing profit and losses in the ratio 3 : 2. They admit Z into the partnership, for 1/5 share of profit who acquires 1/4th of his share from X and 3/4th of his share from Y.
Calculate New Profit Sharing Ratio and Sacrificing Ratio.

Answer: New Ratio of X,Y and Z  11:5:4  Sacrifice Ratio of Z and Y 1:3

Question 7.

A, B and C are partners in a firm sharing profits in the ratio of 3 : 2 : 1. Reeta joins the firm. A surrenders 1/4th of his share; B surrenders 1/3rd of his share and C surrenders 1/5th of his share in favour of Reeta. Calculate New Profit Sharing Ratio.

Answer: New Ratio of A,B,C and Reeta 135 : 80 : 48 : 97

Question 8.

AA and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. C is admitted as a new partner. A surrenders 1/5th of his share and B 2/5th of his share in favour of C Calculate New Profit Sharing Ratio.

Answer: New Ratio of A, B and C 12:6:7 Sacrificing ratio of A: B = 3: 4

Question 9.

Neeta and Sunita are partners in a firm sharing profits and losses in the ratio of 2 : 1. Geeta is admitted as a new partner for 1/4th share in the profits. Calculate New Profit Sharing Ratio.

Answer: New Ratio Neeta ,Sunita andGeeta 2 : 1 : 1

Question 10.

Neelesh and Rohan are partners in a firm sharing profits and losses in the ratio of 3 : 1. On April 1st 2022, they admitted Rohit as a partner for 1/5th share in the profits of the firm. The partners decided to share future profits in the ratio of 3 : 1 : 1. Calculate Sacrificing Ratio.

Answer: Sacrificing Ratio of Neelesh and Rohan 3:1

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