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Class 12AccountancyReconstitution - Admission of a PartnerNew Profit Sharing RatioHard
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A and B share profits in the ratio 3:5. C is admitted for a 1/8 share of the new profits. If B’s new share is 1/2, what will be A’s new share?

Answer and explanation

Correct answer: 3/8

The total of the new profit shares is 1. Therefore, A’s new share = 1 − B’s new share − C’s share = 1 − 1/2 − 1/8 = 3/8. A’s old share was also 3/8, so A neither sacrifices nor gains any share. Exam tip: Always verify that the new profit shares add up to 1.

Related tags

AccountancyAdmission-Of-PartnerNew-Profit-Sharing-RatioProfit-SacrificeHardNew Profit Sharing RatioReconstitution Admission Of A PartnerClass 12 Mcq
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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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