12th Class Accountancy Admission of a Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner

B and N are partners in a firm sharing profits in the ratio of 3 : 2.They admit S as a partner for 1/4th share in the profits. S acquires his share from B and N in the ratio of 2 : 1. The new profit sharing ratio will be:

A) 2 : 1 : 4

B) 19 : 26 : 15

C) 3 : 2 : 4

D) 26 : 19 : 15

Correct Answer: D

Solution :

[d] 26 : 19 : 15

Hint: B sacrifice = \[\frac{1}{4}\times \frac{2}{3}=\frac{2}{12}\]

N sacrifice = \[\frac{1}{4}\times \frac{1}{3}=\frac{1}{12}\]

B's new share = \[\frac{3}{5}-\frac{2}{12}=\frac{36-10}{60}=\frac{26}{60}\]

N's new share = \[\frac{2}{5}-\frac{1}{12}=\frac{24-5}{60}=\frac{19}{60}\]

C's share = \[\frac{1}{4}\times \frac{15}{15}=\frac{15}{60}\]

New profit sharing ratio = 26 : 19 : 15