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On 1-4-2010 Sahil and Charu entered into partnership for sharing profits in the ratio of 4:3. They admitted Tanu as a new partner on 1-4-2012 for 1/5th share which she acquired equally from Sahil and Charu. Sahil, Charu and Tanue earned profits at a higher rate than the normal rate of return for the year ended 31-3-2013. Therefore, they decided to expand their business. To meet the requirement of additional capital they admitted Puneet as a new partner on 1-4-2013 for 1/7th share of profits which he acquired from Sahil and Charu in 7 : 3 ratio. Calculate : (a) New profit sharing ratio of Sahil, Charu and Tanu for the year 2012 - 13. (b) New profit sharing ratio of Sahil, Charu, Tanu and Puneet on Puneet's admission. |
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Answer» On 1-4-2010 Sahil and Charu entered into partnership for sharing profits in the ratio of 4:3. They admitted Tanu as a new partner on 1-4-2012 for 1/5th share which she acquired equally from Sahil and Charu. Sahil, Charu and Tanue earned profits at a higher rate than the normal rate of return for the year ended 31-3-2013. Therefore, they decided to expand their business. To meet the requirement of additional capital they admitted Puneet as a new partner on 1-4-2013 for 1/7th share of profits which he acquired from Sahil and Charu in 7 : 3 ratio. Calculate : (a) New profit sharing ratio of Sahil, Charu and Tanu for the year 2012 - 13. (b) New profit sharing ratio of Sahil, Charu, Tanu and Puneet on Puneet's admission. |
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