Question

Dev, Gautam, and Kamal were three partners sharing profits and losses in the ratio of 2 : 1 : 2. On 1st April, 2020, their capital account balances stood at ₹ 90,000, ₹ 80,000 and ₹ 20,000 (Dr.) respectively. On this date they admitted Naveen into the partnership with a capital of ₹ 50,000. Naveen is to have a `1/4` share of the profits with a guaranteed minimum share of distributable profit of ₹ 40,000. The new profit-sharing ratio among the partners being Dev : Gautam : Kamal : Naveen = 6 : 2 : 7 : 5. The profit of the firm for the year 2020-21 was ₹ 1,60,000 before the following adjustments were made: Interest on Capital @ 10% per annum to be allowed to the partners. Interest on Drawings: Dev: ₹ 3,000; Kamal: ₹ 6,000. Salary to Partners: Gautam ₹ 7,000; Naveen: ₹ 10,000.

The sacrificing ratio of Dev, Gautam and Kamal will be:

पर्याय

• 1 : 2 : 2

• 2 : 2 : 1

• 1 : 1 : 2

• 2 : 1 : 2

Answer 1

2 : 2 : 1

Explanations:

The old profit-sharing ratio among Dev, Gautam, and Kamal is 2 : 1 : 2.

Dev’s Old Share = `2/5`

Gautam’s Old Share = `1/5`

Kamal’s Old Share = `2/5`

The new profit-sharing ratio among Dev, Gautam, Kamal, and Naveen is 6 : 2 : 7 : 5.

Dev’s New Share = `6/20`

Gautam’s New Share = `2/20`

Kamal’s New Share = `7/20`

To compare, we need to bring the old shares to a common denominator (20 in this case)

Dev’s Sacrifice = `2/5 xx 4/4`

= `8/20`

= `8/20 - 6/20`

= `2/20`

Gautam’s Sacrifice = `1/5 xx 4/4`

= `4/20`

= `4/20 - 2/20`

= `2/20`

Kamal’s Sacrifice = `2/5 xx 4/4`

= `8/20`

 = `8/20 - 7/20`

= `1/20`

The sacrificing ratio of Dev, Gautam, and Kamal is 2 ∶ 2 ∶ 1.