Question:
J, K, L, M are in partnership sharing profits and losses in the ratio of 9 : 6 : 5 : 5. ‘N’ joins the partnership for 20% share. J, K, L and M would in future share profits among themselves as 3 : 4 : 2 : 1. The new profit sharing ratio will be:
J, K, L, M are in partnership sharing profits and losses in the ratio of 9 : 6 : 5 : 5. ‘N’ joins the partnership for 20% share. J, K, L and M would in future share profits among themselves as 3 : 4 : 2 : 1. The new profit sharing ratio will be:
Show Hint
नए साझेदार के प्रवेश पर शेष लाभ को पुराने साझेदारों में नए अनुपात में बाँटा जाता है।
Updated On: Feb 16, 2026
- 3 : 4 : 2 : 1 : 5
- 9 : 6 : 5 : 5 : 5
- 8 : 6 : 4 : 2 : 5
- 6 : 8 : 4 : 2 : 5
Show Solution
Verified By Collegedunia
The Correct Option is C
Solution and Explanation
N is admitted for 20% share, therefore remaining 80% share will be divided among J, K, L and M.
Their new ratio is given as 3 : 4 : 2 : 1, total = 10 parts.
\[
\text{J} = \frac{3}{10} \times 80 = 24,\;
\text{K} = \frac{4}{10} \times 80 = 32,\;
\text{L} = \frac{2}{10} \times 80 = 16,\;
\text{M} = \frac{1}{10} \times 80 = 8,\;
\text{N} = 20
\]
Dividing by 4, the new ratio becomes:
\[
8 : 6 : 4 : 2 : 5
\]
Was this answer helpful?
0
0
Top PSEB Accountancy Questions
- Under which method of valuation of Goodwill, normal rate of return is not required?
- An increase in the value of assets is recorded on which side of the Revaluation Account?
- J, K, L, M are in partnership sharing profits and losses in ratio of 9 : 6 : 5 : 5. 'N' joins the partnership for 20% share. J, K, L and M would in future share profits among themselves as 3 : 4 : 2 : 1. The new profit sharing ratio will be:
- X, Y and Z are three partners sharing profits in the ratio 10 : 7 : 7. Z retired. X and Y decided to share profits in equal ratio. Gaining ratio will be:
- Rent paid to a partner is _________ against profit. (charge/appropriation)
View More Questions
Top PSEB Profit and Loss Account Questions
- X, Y and Z are three partners sharing profits in the ratio of 10 : 7 : 5. Z retired. X and Y decided to share profits in equal ratio. The gaining ratio will be:
- Rent paid to a partner is __________ against profit. (charge/appropriation)
- Sita, Gita and Rita are partners sharing profits in the ratio of 4 : 3 : 2. From April 1, 2024, they decided to share the profit equally. On that date their books showed the following items:
General Reserve ₹1,80,000
Workmen Compensation Reserve ₹2,25,000
Profit & Loss Account (Dr.) ₹4,50,000
Record the necessary Journal Entries. - X and Y were partners in a firm. They admitted Z as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of X and Y were ₹2,50,000 and ₹3,50,000 respectively. Z brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by Z.
- X and Y were partners in a firm. They admitted Z as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of X and Y were ₹2,50,000 and ₹3,50,000 respectively. Z brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by Z.
View More Questions
Top PSEB Questions
- Under which method of valuation of Goodwill, normal rate of return is not required?
- An increase in the value of assets is recorded on which side of the Revaluation Account?
- J, K, L, M are in partnership sharing profits and losses in ratio of 9 : 6 : 5 : 5. 'N' joins the partnership for 20% share. J, K, L and M would in future share profits among themselves as 3 : 4 : 2 : 1. The new profit sharing ratio will be:
- X, Y and Z are three partners sharing profits in the ratio 10 : 7 : 7. Z retired. X and Y decided to share profits in equal ratio. Gaining ratio will be:
- Rent paid to a partner is _________ against profit. (charge/appropriation)
View More Questions