X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. They admit A into partnership and give him 1/5th share of profits. Find the new profit-sharing ratio.
`{:(,,A,B),((i),"Their old share",5//8,3//8),((ii),"Share gifted by A",3//10xx1//2=3//20,...),((iii),"Share acquired by C ,3//20xx1//2=3//40,3//20xx1//2=3//40):}`
New share of A =Old share-Share gifted -Share acquired by C
`=(5)/(8)-(3)/(20)-(3)/(40)=(25-6-3)/(40)=(16)/(40)`
New share of `B=(3)/(8)-(3)/(40)=(15-3)/(40)=(12)/(40)`
Thus, New Prfit-sharing Ration...
Calculation of Net Effect of Accumulated profits, Losses and Resreve:
`{:(,"Book Values (RS)"),("General Reserve","1,80,000"),("Contingency Reserve","30,000"),("Profit and Loss A//C (Cr.)","90,000"),(,overline("3,00,000")),("Advertisement Suspense A//c (Dr.)","1,20,000"),("Net Effect",underline underline overline("1,80,000")):}`
Calculation of Sacrifice/(Gain) of Each...