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Class 12AccountancyReconstitution - Admission of a PartnerNew Profit Sharing RatioEasy
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Shiv and Mohan share profits in the ratio 1:2. Rakesh is admitted for a 1/3 share of the profits, and his entire share is taken only from Mohan. What will be the new profit-sharing ratio?

Answer and explanation

Correct answer: Shiv : Mohan : Rakesh = 1:1:1

Shiv’s and Mohan’s old shares are 1/3 and 2/3, respectively. Since Rakesh’s 1/3 share is taken entirely from Mohan, Mohan’s new share is 2/3 − 1/3 = 1/3. Thus, Shiv, Mohan and Rakesh have shares of 1/3, 1/3 and 1/3, giving the new ratio 1:1:1. Exam tip: only the partner who sacrifices the share experiences a reduction in the new ratio.

Related tags

Admission-Of-PartnerNew-Profit-Sharing-RatioSacrificing-SharePartnership-AccountsClass-12New Profit Sharing RatioReconstitution Admission Of A PartnerAccountancy
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10 more MCQs
  1. 1Old partners A and B share profits in the ratio 3:2, and the new ratio is 2:2:1. What is A’s sacrifice?
  2. 2A and B’s old ratio is 4:3. After admission of C, the new ratio is 3:3:2. What is the sacrificing ratio?
  3. 3A and B share profits in 5:4. C is admitted and the new ratio is 4:3:2. What is the sacrificing ratio?
  4. 4A and B share in the old ratio 5:4. C takes a one-third share from A and B in the old ratio. What is the new ratio?
  5. 5Aman and Bharat share profits in old ratio (3:2). Chetan is admitted for (1/5) share. If Chetan gets his share from the old partners in old ratio then what is the new profit sharing ratio?
  6. 6Reena and Seema share profits equally. Meena is admitted for (1/4) share. If Meena gets her share equally from both old partners then what is the new ratio?
  7. 7Rohit and Mohit share profits in (5:3). Sohit is admitted for (1/4) share which is taken from Rohit only. What is the new ratio?
  8. 8Anshu and Binu share profits in the ratio 7:5. Charu is admitted as a partner for a 1/6 share of profits. If Anshu and Binu surrender Charu’s share in their old ratio, what will be the new profit-sharing ratio?
  9. 9Kapil and Lalit share profits in (2:1). Manoj is admitted for (1/3) share which is given equally by both old partners. What is the new ratio?
  10. 10Neeraj and Pankaj share profits in (4:1). Queen is admitted for (1/5) share. If Queen's share is taken from Pankaj then what is the new ratio?
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