Sachin and Sohail, are partners, sharing profits in the ratio of 2:1. Sonam is admitted into the firm for 1/4 share of profits. Sonam brings in Rs. 20,000 in respect of his capital. The capitals of old partners, Sachin and Sohail, after all adjustments relating to goodwill, revaluation of assets and liabilities, etc., are Rs. 45,000 and Rs. 15,000 respectively. It is agreed that partners capital should be according to the new profit-sharing ratio. What would be the new profit sharing ratio of Sachin, Sohail, and Sonam?

2:1:1

Correct answer: Option (1) → 2:1:1

Concept: New profit sharing ratio when the incoming partner acquires his share from the old partners in their old ratio, per Reconstitution of a Partnership Firm – Admission of a Partner.

Sachin : Sohail = 2 : 1; Sonam admitted for 1/4, acquired from them in the old ratio.
Remaining share = 3/4 divided 2 : 1 ⇒ Sachin = 2/3 × 3/4 = 1/2, Sohail = 1/3 × 3/4 = 1/4, Sonam = 1/4
New ratio = 1/2 : 1/4 : 1/4 = 2 : 1 : 1.