Accountancy MCQ – Class 12 – Chapter 5 – Admission of a Partner – Part 2

1. A and B are partners sharing profit or loss in the ratio of 3 : 2. C is admitted into partnership as a new partner. A sacrifices 1/3 of his share of B sacrifices 1/4 of his share in favour of C. What will be the C’s share in the firm?

2. A and B are partners sharing profit or loss in the ratio of 4 : 1. A surrenders 1/4 of his share and B surrenders 112 of his share in favour of C, a new partner. What will be the C’s share?

3. A and B are in partnership sharing profits and losses as 3 : 2. C is admitted for 1/4th share. Afterwards, D enters for 20 paisa in the rupee. The new profit sharing ratio after D’s admission will be :

4. A and B are partners sharing profits in the ratio of 4 : 3. They admitted C as a new partner who gets 1/5th share of profit, entirely from A. The new profit sharing ratio will be :

5. P and S are partners sharing profits in the ratio of 3 : 2. R is admitted with 15th share and he brings in ₹84,000 as his share of goodwill which is Credited to the Capital Accounts of P and S respectively with ₹63,000 and ₹21,000. New profit sharing ratio will be :

6. A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner C is admitted. A surrenders 1/15th share of his profit in favour of C and B surrenders 2/15th of his share in favour of C. The new ratio will be :

7. A new partner may be admitted into a partnership :

8. A and B are partners sharing profit in the ratio of 3 : 2. They admit C as a partner by giving him 1/3 share in future profits. The new ratio will be :

9. The formula for calculating the sacrificing ratio is :

10. A and B are partners in a firm sharing profits and losses in the ratio of 2 : 3. C is admitted for 1/5 share in the profits of the firm. If C gets it wholly from A, the new profit sharing ratio after C’s admission will be :

11. A and B are partners. They admit C for 13rd share. In future the ratio between A and B would be 2 : 1. Sacrificing ratio will be :

12. A and B are partners sharing profits in the ratio of 5 : 3. A surrenders 14th of his share and B surrenders 15 of his share in favour of C, a new partner. What is the sacrificing ratio?

13. A and B are partners sharing profits in the ratio of 11 : 4. C was admitted. A surrendered 111th of his share and B14 of his share in favour of C. The sacrificing ratio will be :

14. A and B are partners sharing profits and losses as 2 : 1. C is admitted and profit sharing ratio becomes 4 : 3 : 2. Goodwill is valued at ₹94,500. C brings required goodwill in cash. Goodwill amount will be Credited to :

15. A, B and C are partners sharing in the ratio of 5 : 4 : 3. They admit D for 17th share. It is agreed that B would retain his original share. Sacrificing ratio will be :

16. Partners A, B and C share the profits of a business in the ratio of 3 : 2 : 1 respectively. They admit D who brings in ₹60,000 for his share of goodwill. A, B, C and D decide to share the profits respectively in the ratio of 5 : 3 : 2 : 2. Credit will be given to :

17. A and B are partners sharing profits and losses as 2 : 1. C and D are admitted and profit sharing ratio becomes 3 : 2 : 4 : 1. Goodwill is valued at ?90,000. C and D bring required goodwill in Cash. Credit will be given to :

18. X and Y are partners sharing profit in the ratio of 3 : 2. Z was admitted with 1/4 share in profits which he acquires equally from X and Y. The new ratio will be:

19. A and B are partners sharing profits and losses in the ratio of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits. He acquires this share as 1/24th from A and 1/8th from B, The new profit sharing ratio will be :

20. A and B share profits in the ratio of 2 : 1. C is admitted with 1/4 share in profits. C acquires 3/4 of his share from A and 1/4 of his share from B. The new ratio will be:

21. A and B are partners in a business sharing profits and losses in the ratio of 7 : 3 respectively. They admit C as a new partner. A sacrificed 1/7th share of his profit and B sacrificed 1/3rd of his share in favour of C. The new profit sharing ratio of A, B and C will be :

22. P and Q are partners sharing profits in the ratio of 9 : 7. R is admitted as a partner with 920th share in the profits, which he takes 15th from P and 14th from Q Sacrificing ratio will be :

23. A and B are partners sharing profits and losses in the ratio of 5 : 4. C is admitted for 15th share. A and B decide to share equally in future. Sacrificing
ratio will be :

24. A, B, C, D are in partnership sharing profits and losses in the ratio of 9 : 6 : 5 : 5. E joins the partnership for 20% share. A. B, C and D would in future share profits among themselves as 3/10 : 4/10 : 2/10 : 1/10. The new profit sharing ratio will be:

25. A and B are partners in a firm sharing profits in the ratio of 2 : 1. C is admitted as a partner. A and B surrender 12 of their respective share in favour of C. C is to bring his share of premium for goodwill in cash. The goodwill of the firm is estimated at ? 60,000. Credit will be given to :

26. A and B share profits in the ratio of 3 : 2. They agreed to admit C on the condition that A will sacrifice 325th of his share of profit in favour of C and B will sacrifice 125th of his profits in favour of C. The new profit sharing ratio will be :

27. X and 7 are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership with 15th share in profits which he acquires equally from A and Y. Z brings in ₹40,000 as goodwill in cash. Goodwill amount will be credited to :

28. On the admission of a new partner :

29. A and B are partners sharing profits and losses in the ratio of 3 : 2. C is admitted into partnership for 15th share in profit. He pays ₹1,00,000 as goodwill. The ratio of the partners A, B and C in the new firm would be 3 : 1 : 1. Goodwill will be credited to:

30. B and N are partners in a firm sharing profits in the ratio of 3 : 2. They admit S as a partner for l/4th share in the profits. S acquires his share from B and N in the ratio of 2 : 1. The new profit-sharing ratio will be :

31. X and Y are partners sharing profits in the ratio of 3 : 2. Z is admitted as a partner. Calculate sacrifi cing ratio if new profit sharing ratio is 9 : 7 : 4.