Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

A, B & C are partners sharing profits and losses in the ratio of 4:3:2. B decides to retire and the goodwill of the firm is valued at ₹72000 on the retirement. The remaining partners decide to share the future profits and losses in ratio of 5:3.

What will be the gaining ratio between the remaining partners A & C?

Options:

13:11

11:13

12:11

11:12

Correct Answer:

13:11

Explanation:

The correct answer is option 1- 13:11.

Old ratio is 4:3:2
B share is 3/9
NEW RATIO IS 5:3
GAIN OF A = 5/8-4/9
                = 13/72
GAIN OF C = 3/8-2/9
                = 11/72
So, the gaining ratio is 13:11