Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

Siya, Suresh and Seema are partners in a firm sharing profits and losses in the ratio of 3:2:1. Seema retires from the firm and the new profit sharing ratio between Siya and Suresh is 3:2. What will be the gaining ratio between Siya and Suresh?

Options:

3:2

3:1

1:1

2:1

Correct Answer:

3:2

Explanation:

The correct answer is option 1- 3:2.

Gaining share = New share - Old share
Siya's gain = 3/5-3/6
                = (18-15)/30
                = 3/30
Suresh's gain = 2/5-2/6
                    = (12-10)/30
                    = 2/30
Gaining ratio = 3/30 : 2/30
                   = 3:2