"Shyam, Gagan and Ram are partners sharing profit in the ratio of 2 : 2 : 1. Their Balance

Shyam, Gagan and Ram are partners sharing profit in the ratio of 2 : 2 : 1. Their Balance Sheet as on March 31, 2017 are as under: As Gagan got a very good break at an MNC, so he decided to retire on that date and it was decided that Shyam and Ram would share the future profits in the ratio of 5 : 3. Goodwill was valued at Rs. 70,000, Machinery at Rs. 78,000, Buildings at Rs. 1,52,000, stock at Rs. 30,000, and bad debts amounting to Rs. 1,550 were to be written off. Record journal entries in the books of the firm and prepare the Balance Sheet of the new firm.

Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3 : 2 : 1 : 4 . Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of 3:2. Calculate new profit sharing ratio and gaining ratio of the remaining partners.

X, Y and Z are partners sharing profits in the ratio of 2 : 2 : 1. W is admitted as a new partner for (1)/(6)th share. Z will retain his share. Calculate new profit-sharing ratio.

A, B and C are partners sharing profits in the ratio of 2 : 2 : 1, D is admitted as a new partner for 1/6th share. C will retain his original share. Calculate the new profit-sharing ratio and sacrificing ratio.

Alka, Harpreet and Shreya are partners sharing profits in the ratio of 3:2:1 . Alka retires and her share is taken up by Harpreet and Shreya in the ratio of 3:2 . Calculate the new profit sharing ratio.

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.

Ankit, Unnati and Aryan are partners sharing profits in the ratio of 5:3:2. They decided to share future profits in the ratio of 2:3:5 with effect from 1st April,2018. They had the following balance in their balance sheet, passing necessary Journal Entry: