NCERT Solutions for Class 12 Accountancy Chapter 3 Admission of a Partner

Q. A and B are partners sharing profits in the ratio of 3 : 1. They admit C for 1/4th share in the future profits. The new profit sharing ratio between A, B and C will be :
(a) 9 : 3 : 4
(b) 8 : 4 : 4
(c) 10 : 2 : 4
(d) 8 : 9 : 10

Ans. (a) 9 : 3 : 4

 Explanation :

$$C’s share =\frac{1}{4}\\ \text{Total share} = 1\\ \text{Remaining share of A and B} = 1 –\frac{1}{4}=\frac{1}{3}\\ A’s new share =\frac{3}{4}×\frac{3}{4}=\frac{9}{16}\\ B’s New share =\frac{3}{4}×\frac{1}{4}=\frac{1}{3}\\ C’s New share =\frac{1}{4}×\frac{4}{4}=\frac{4}{16}\\ \text{New Profit Sharing Ratio} = 9 : 3 : 4$$

Q. X and Y share profits in the ratio of 3 : 2. Z was admitted as a partner who gets 1/5 share. New profit sharing ratio, if Z acquires 3/20 from X and 1/20 from Y would be:
(a) 9 : 7 : 4
(b) 8 : 8 : 4
(c) 6 : 10 : 4
(d) 10 : 6 : 4

Ans. (a) 9 : 7 : 4

 Explanation :

$$Z’s share =\frac{1}{5}\\ X sacrifice = \frac{3}{20}\\ Y sacrifice = \frac{1}{20}\\ \text{X’s new share} =\frac{3}{5}-\frac{3}{20}=\frac{12-3}{20}=\frac{9}{20}\\ \text{Y’s new share} =\frac{2}{5}-\frac{1}{20}=\frac{8-1}{20}=\frac{7}{20}\\ \text{Z’s new share} =\frac{3}{20}+\frac{1}{20}=\frac{4}{20}\\ \text{New Profit Sharing Ratio} = 9 : 7 : 4$$

Q. Asha and Nisha are partners sharing profit in the ratio of 2 : 1. Asha’s son Ashish was admitted for 1/4 share of which 1/8 was gifted by Asha to her son. The remaining was contributed by Nisha. Good will of the firm is valued at ₹40,000. How much of the goodwill be credited to the old partners’ capital account?
(a) ₹2,500 each
(b) ₹5,000 each
(c) ₹20,000 each
(d) None of these

Ans. (b) 5,000 each

 Explanation :

$$Asha sacrifice =\frac{1}{8}\\ Nisha sacrifice = \frac{1}{4}-\frac{}1{8}=\frac{2-1}{8}=\frac{1}{8}\\ \text{Sacrificing Ratio} = 1 : 1\\ \text{Amount of goodwill credited to old partner’s capital account} = 40,000 ×\frac{1}{4}=₹10,000$$