2 :- From the following particulars, calculate new profit-sharing ratio of the partners:-
(a) Shiv, Mohan and Hari were partners in a firm sharing profits in the ratio of 5:5:4. Mohan died and his share was taken equally by Shiv and Hari.
(b) P, Q and R were partners sharing profits in the ratio of 5:4:1. P died.
Solution:-
(a) Shiv = 5/14 + (5/14 x 1/2) = 5/14 + 5/28 = 15/28
Hari = 4/14 + (5/14 x 1/2) = 4/14 + 5/28 = 13/28
Thus, New Profit sharing ratio of Shiv and Hari is 15:13
(b) Q = 4/10 + (5/10 x 4/5) = 4/10 + 20/50 = 40/50
R = 1/10 + (5/10 x 1/5) = 1/10 + 5/50 = 10/50
Thus, New profit sharing ratio of P, Q and R is 4:1.