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Accountancy · 2023 · 1 mark
Reconstitution of a Partnership Firm – Admission of a PartnerChange in Profit Sharing Ratio among the Existing Partners1 markvery short answer
CBSE 2023 · Region 4 · Set 1 · Q9
Ria and Surbhi were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : 2. With effect from 1st April, $\displaystyle 2022$, they agreed to share profits equally. The goodwill of the firm was valued at ₹ $\displaystyle 3,00$,000. The adjustment will be done by which of the following transaction ?ORNaman, Suman and Mohit were partners in a firm sharing profits in the ratio $\displaystyle 8$ : $\displaystyle 5$ : 3. With effect from 1st April, $\displaystyle 2022$, they decided that in future, they will share the profits in the ratio $\displaystyle 5$ : $\displaystyle 6$ : 5. Identify the gain or sacrifice by the partners due to change in profit sharing ratio, from the following : $\displaystyle 3$ $\displaystyle 1$ , Mo $\displaystyle 2$
OR
Naman, Suman and Mohit were partners in a firm sharing profits in the ratio $\displaystyle 8$ : $\displaystyle 5$ : 3. With effect from 1st April, $\displaystyle 2022$, they decided that in future, they will share the profits in the ratio $\displaystyle 5$ : $\displaystyle 6$ : 5. Identify the gain or sacrifice by the partners due to change in profit sharing ratio, from the following : $\displaystyle 3$ $\displaystyle 1$ , Mo $\displaystyle 2$Official answer
From CBSE’s own marking scheme for this paper.
(a) → (A)
(b) → (B)
Marking-scheme solution
(a)
Debiting Surbhi’s account by ₹$\displaystyle 30,000$ and crediting Ria’s account by ₹
$\displaystyle 30,000$
Q. (ii) Naman, Suman and Mohit were partners.............................
Ans.
(b)
Naman’s sacrifice $\displaystyle 3$/$\displaystyle 16$, Suman’s gain $\displaystyle 1$/$\displaystyle 16$, Mohit’s gain $\displaystyle 2$/$\displaystyle 16$
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CBSE Class 12 Accountancy past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.