A& B are partners sharing profits and losses in the ratio of 3:2. C is admitted for ¼ and for which₹30,000 and ₹10,000 are credited as a premium for goodwill to A and B respectively. The new profit-sharing ratio of A:B:C will be
Question
A& B are partners sharing profits and losses in the ratio of 3:2. C is admitted for ¼ and for which₹30,000 and ₹10,000 are credited as a premium for goodwill to A and B respectively. The new profit-sharing ratio of A:B:C will be
Solution
To find the new profit-sharing ratio of A, B, and C, we need to calculate their respective shares after C's admission.
First, let's calculate the total amount of goodwill credited to A and B. A received ₹30,000 and B received ₹10,000, making the total goodwill ₹40,000.
Next, we need to determine the new ratio of A, B, and C. Since C is admitted for ¼, their share will be 1/4 or 25% of the total profits.
To calculate the new ratio, we need to divide the total profits into five parts (3 parts for A and 2 parts for B) and allocate one part to C.
The new profit-sharing ratio of A, B, and C will be 3:2:1.
Therefore, the new profit-sharing ratio of A:B:C will be 3:2:1.
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