The Balance sheet of Himanshu, Pranav and Tushar who were sharing profits in proportion to their capital stood as follows:
| Balance Sheet as on 31 March 2022 |
|||
| Liabilities | Rs | Assets | Rs |
| Sundry Creditors | 25,000 | Land and Building | 35,000 |
| Investment Fluctuation Fund | 5,000 | Machinery | 45,500 |
| Bills Payable | 10,000 | Stock | 13,000 |
|
Capital: |
70,000 | Debtors | 6,000 |
| Investment | 5,000 | ||
| Bank | 4,000 | ||
| Profit and loss A/c | 1,500 | ||
| 1,10,000 | 1,10,000 | ||
Addition Information:
(a) On 1st April 2022, they admitted Rachit into partnership for 1/6th share in future profit.
(b) Rachit will bring ₹25,000 for capital and ₹15,000 for goodwill.
(c) A provision for doubtful debts of 7% was to be made.
(d) Land and building is to be appreciated to 120%.
(e) Machinery is decreased by ₹1,500.
On the basis of above case give answer to question:
Determine the new profit-sharing ratio among partners, after Rachit's admission.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 5:3:2:2
The old partners share profits in proportion to their capitals. Rachit takes 1/6, and the remaining 5/6 is shared by the old partners in their old ratio.
Old ratio = 35,000 : 21,000 : 14,000 = 5 : 3 : 2
Remaining share = 1 − 1/6 = 5/6
Himanshu = 5/6 × 5/10 = 25/60
Pranav = 5/6 × 3/10 = 15/60
Tushar = 5/6 × 2/10 = 10/60
Rachit = 1/6 = 10/60
New ratio = 25 : 15 : 10 : 10 = 5 : 3 : 2 : 2
NCERT (2026-27 edition):
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