Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

P and S are partners sharing profits in the ratio of 3 : 2. R is admitted with 1/5th share and he brings in ₹84,000 as his share of goodwill which is Credited to the Capital Accounts of P and S respectively with ₹63,000 and ₹21,000. What will be the sacrificing ratio?

Options:

03:01

09:07

03:02

07:09

Correct Answer:

03:01

Explanation:

They sacrificed in ratio of 63000 : 21000
or 3:1