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1. A, Band Care partners sharing profits and losses in the ratio of 5:4:3. They decided to change
their profit-sharing ratio to 2:2:1with effect from March 31, 2017. Calculate sacrifice and gain for
all the three partners. {A's Sacrifice = so; B's Gain = %0; C's Sacrifice =6o}
2. X,Y and Zare partners sharing profits and losses in the ratio of 3:1:1. With effect from January 1,
2017, they decided to change their profit-sharing ratio to 2:1:1.Calculate sacrifice and gain ofthe
partners.
(X's Sacrifice =0; Y's Gain = Váo; Z's Gain = V2o}
3. A, B,Cand Dare partners sharing profits and losses equally. They decided to share future profits
in the ratioof 4:3:2:1.Calculate sacrifice and gain of all the four partners.
{A's Gain=%0; B's Gain = ho; C's Sacrifice = ho, D's Sacrifice =ho}
4. A, B, and C were partners sharing profits in the ratio of 5:3:2. They now decide to change their
profit-sharing ratio to 3:2:1.Compute sacrifice and gain of the partners.
(A's Gain and Sacrifice = 0; B's Gain = so; C's Sacrifice = %o}
5. X, Yand Z are partners sharing profits and losses in the ratio of 3:2:1.It wasdecided that in future Z
willget 4th share in profit. Calculate the new profit-sharing ratio and sacrifice/gain of the partners.
(New Profit-Sharing Ratio: 9:6:5; X's Sacrifice =%o; Y's Sacrifice =%o; Z's Gain = S60)
6. Amit,Sumit and Namit are partners sharing protits and losSses in the ratio of 4:3:2. They agreed that
in future, Sumit will get h share in profit. Calculate the new profit-sharing ratio and sacrifice/gain
of the partners.
(New Profit-SharingRatio: 8:3:4; Amit's Gain =4s, Sumit's Sacrifice=%5; Namit's Gain =s)
7. X,Yand Zare partners sharing profits and losses in the ratio of 3:2:1. It was decided that in future
Z willget ah share in proit, which he acquires trom Xand Yin the ratio of 1:1 Calculate the new
profit-sharing ratio and sacrifice/gain of the partners.
INew Profit-Sharing Ratio: 11:7:6, X'S Sacrifice= 24; Y's Sacrifice= h4; Z's Gain = 3ha)
3.48
Accountancy for Class Xl
8. Mohan, Sohan and Rohan are partners sharing profits and losses in the ratio of 5:3:2. It was decid..
that in future Rohan will get 4th share in profit,which he acquires from Mohan and Sohan in t
ratio of 3:2 Calculate the new profit-sharing ratio and sacrifice/gain of the partners.
{New Profit-Sharing Ratio: 47:28:25; Mohan's Sacrifice - 33.
Sohan's Sacrifice=oo; Rohan's Gain =/00
9. A, B and C are partners sharing profits and losses in the ratio of 2:2:1. As per the new agreement
Cacquires Vh share in profit, equally from Aand B. Calculate the new profit-sharing ratio and
sacrifice or gain of each partner.
{New Profit-Sharing ratio: 3:3:4; A's Sacrifice = ho; B's Sacrifice = ho; C's Gain
10. Ram, Shyam and Hari are partners sharing profits and osses in the ratio of 3:2:1. As per the new
agreement, Hari acquires V4h share in profit, equally from Ram and Shyam. Determine the new
ratio of partners and sacrifice/gain of each partner.
{New Profit-Sharing ratio:9:5:10; Ram's Sacrifice = 6; Shyam's Sacrifice = 6; Hari's Gain )
Treatment of Goodwill
11. Aand B are partners in afirm. They were sharing profits and losses in the ratioof
to share future profits and losses in the ratio of 3:5. Firm's goodwill was 5:3.They decided
valued at 88,000. Pass
necessary adjustment entry for goodwill.
{A's Sacrifice =6,; B's Gain=6; Dr. B's Capital A/c by 22,000 (=% of 88,000)
and Cr. A's Capital A/c by 22,000}
12. Ram and Shyam are partners sharing profits and losses in the
ratio of 3:1. On 1st January 2017,
they decided to share future profits and losses in the ratio of 5:3. Goodwill of the firm was valued
at 64,000. Pass necessary journal entry for the
treatment of goodwill.
{Ram's Sacrifice = V6; Shyam's Gain = 6; Dr. Shyam's Capital Alc by
8,000 (= % of 64,000) and Cr. Ram's CapitalAlc by 8,000)
13. A, B and C were partners in a firm sharing profits in 3:2:1 ratio. They
in future in 5:3:2 ratio. For this purpose, the goodwill of the decided to share the profits
firm was valued at 60,000. Pass an
adjustment entry for the treatment of goodwill. {CBSE, All India(Comptt.) 2000}
{A's Sacrifice or Gain = 0; B's Sacrifice = so; C's Gain= so; Dr. C's Capital AlC
by 2,000 (= Vso of 60,000); Cr. B's Capital A/c by 2,000}
14. A, B and C are partners in a firm sharing profits and losses in
the ratio of 3:2:1. In future, they
decided to share profits in the ratio of 6:5:2. For this purpose, the goodwill of the firm was valued at
78,000. Pass necessary journal entry for the treatment of goodwilldue to change in profit-sharing
ratio. Also, show your workings clearly.
{A's Sacrifice =8; B's Gain e; C's Sacrifice= he: Dr. B's Capital A/c by
(= ho of 78,000); Cr. A's Capital A/c by 73,000; Cr. C's Capital 4,000
A/c by 1,000}
15. Tvisha and Divya were partners in a firm carrying on a tiffin service in
that a lot of food is left at the end of the day. To avoid Hyderabad. Divya noticeu
be distributed among the needy. Tvisha wanted it to be wastage, she suggested that the sâme hiey
mixed with the food to be served the ne
day.
Tvisha then gave a proposal that if her share in the profit is increased, she will not mina lo
distribution of left over food. Divya happily agreed. So, they decided to change their profit shag
ratio to 3:2 with immediate effect. On the date of change in
the firm was valued at 50,000. the profit-sharing ratio, the gooawi
(a) Pass the necessary adjustment entry for the
treatment of goodwill.
(b) State any two values highlighted in the behaviour of Tvisha and Divya.
(CBSE, Delhi Comptt. 2017)
{a) Dr. Divya's Capital Alcand Cr. Tvistha's Capital A/c by 5,000; (b) Values (Any
Compassion, Sensitivity towards underprivileged, Optimum utilisa
Of resources, Concern for sociely?
Change in Profit-Sharing Ratio 3,49
() Ifthey do not want to show general reserve in the new Balance Sheet.
(i) Ifthey want to show general reserve in the new Balance Sheet.
{) Dr. General Reserve A/c by ?60,000; Cr. A's Capital Alc by40,000 (=% of R60,000);
Cr.B's Capital A/c by 20,000 (= ó of R60,000): () A's Sacrifice = hs; B's Gain =hs;
Dr. B's Capital A/c by 4,000 (= Vs of R60,000) and Cr. A's Capital Alc by 4,000)
Comprehensive Questions