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Accountancy · 2022 · 2 marks
Reconstitution of a Partnership Firm – Retirement/Death of a PartnerAscertaining the Amount Due to Retiring/Deceased Partner2 marksvery short answer
CBSE 2022 · Region 1 · Set 3 · Q3
X, Y and Z were partners in a firm sharing profit and losses in the ratio of $\displaystyle 5$ : $\displaystyle 3$ : 2. Y retired from the Firm and X and Z decided to share future profits in the ratio of $\displaystyle 3$ : 2. Calculate the Gain/Sacrifice of X and Z.
Marking-scheme solution
Old Ratio X : Y : Z
$\displaystyle 5$ : $\displaystyle 3$ : $\displaystyle 2$
New Ratio X : Z
$\displaystyle 3$ : $\displaystyle 2$
Gain = New Share - Old Share
$\displaystyle 3$ $\displaystyle 5$ $\displaystyle 6$ $\displaystyle 5$ $\displaystyle 1$
X
$\displaystyle 5$ $\displaystyle 10$ $\displaystyle 10$ $\displaystyle 10$
$\displaystyle 2$ $\displaystyle 2$ $\displaystyle 4$ $\displaystyle 2$ $\displaystyle 2$
Z
$\displaystyle 5$ $\displaystyle 10$ $\displaystyle 10$ $\displaystyle 10$
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CBSE Class 12 Accountancy past-paper question from the 2022board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.