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Class 12th Accountancy 2017 Set1 Delhi Board Paper Solution

Question 2

A and B were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted C as a new partner. The new profit sharing ratio between A, B and C was 3 : 2 : 2.  A surrendered 1⁄4 of his share in favour of C. Calculate B’s Sacrifice.

Answer

There are two ways of solution of the problem:

Way 1 :

A's sacrifice = A's Old ratio - A's New Ratio

                    =   4/7   - 3/7

                    =   1/7

B's sacrifice =   C's Share - A's sacrifice

                    =   2/7 - 1/7

                    =   1/7    

 

Way 2 :

B's sacrifice  =   B's Old share   -   B's New share

                     =   3/7    -     2/7

                     =         1/7