Amar & Akbar were partners in a firm sharing P & L in ratio 3 : 2. Their Balance Sheet as at March 31, 2023 was as under:
|
Liabilities |
Amount (₹) |
Assets |
Amount (₹) |
|
Creditor |
50,000 |
Land & Building |
2,50,000 |
|
Bank Loan |
2,00,000 |
Plant & Machinery |
1,80,000 |
|
Amar Capital |
2,80,000 |
Goodwill |
1,00,000 |
|
Akbar Capital |
1,20,000 |
Stock |
60,000 |
|
|
|
Debtor |
40,000 |
|
|
|
Bank |
20,000 |
|
|
6,50,000 |
|
6,50,000 |
They admitted Anthony as a new partner for 1/5 share which he acquired equally from Amar and Akbar.
Based on above information, answer questions.
New Ratio will be :
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) - 5 : 3 : 2.
Old ratio = 3:2 (Amar & Akbar)
They admitted Anthony as a new partner for 1/5 share which he acquired equally from Amar and Akbar.
Share of Anthony = 1/5
Amar sacrifice = 1/5 x 1/2
= 1/10
Akbar sacrifice = 1/5 x 1/2
= 1/10
NEW SHARE = OLD SHARE -SACRIFICED SHARE
Amar new share = 3/5 - 1/10
= (6-1)/10
= 5/10
Akbar new share = 2/5 - 1/10
= (4-1)/10
= 3/10
New ratio = 5/10 : 3/10 : 1/5
= 5/10 : 3/10 : 2/10
= 5:3:2