Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:
x,y are z are partners and share profits in the ratio of 5 : 3 : 2. y retires and x takes 1/10 from y and z takes 1/5 from y. The new profit sharing ratio will be:
Options:
07:13
13:07
01:02
03:02
Correct Answer:
03:02
Explanation:
New Share of x= 5/10+1/10=6/10
New Share of z= 2/10+1/5=4/10
NPR=6:4=3:2