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A and B Were Partners in the Firm Sharing Profits and Losses in the Ratio of 5:3. They Admitted C as a New Partner. the New Profit Sharing Ratio Between A, B and C Were 3:2:3. a Surre - Accountancy

A and B were partners in the firm sharing profits and losses in the ratio of 4:3. They admitted C as a new partner. The new profit sharing ratio between A, B and C were 3:2:2. A surrendered `1/4` th of his share in favour of C. Calculate B’s sacrifice.

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Solution

B’s share of sacrifice is calculated below. 

B's Sacrifice= Old Share - New Share 

                   = `3/7-2/7=1/7` 

Concept: Admission of a Partner - Sacrifice Ratio and New Ratio
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