X, Y and Z Are Partners Sharing Profit in Ratio of 1/2, 2/5, and 1/10. Find the New Ratio of Remaining Partners If Z Retires. - Accountancy
X, Y and Z are partners sharing profit in ratio of 1/2, 2/5, and 1/10. Find the new ratio of remaining partners if Z retires.
Profit sharing ratio given as 1/2 , 2/5 and 1/10 i.e 5:4:1 after simplification.
Now, as Z retires; by striking of Z's share the new profit sharing ratio between X and Y will be 5:4.
Concept: Retirement and Death of a Partner - Effect of Retirement I Death of a Partner on Change in Profit Sharing Ratio
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