[CBSE] DK Goel Q. 32 (A), (B) Change in Profit Sharing Ratio Solutions Class 12 (2024-25)

Solution of Question 32 (A) 32 (B) of Change in Profit sharing ratio DK Goel Class 12 CBSE (2024-25)

Q. 32 (A)

A, B, C and D are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1 : 1. They decided to share future profits and losses in the ratio of 3 : 2 : 2 : 3. For this purpose goodwill of the firm valued at ₹ 1,50,000. There was also a reserve of ₹ 60,000 in the books of the firm.

Find out sacrifice ratio and gaining ratio and pass necessary journal entry assuming that reserve is not to be distributed.

[Ans. Debit C by ₹ 7,000 and D by ₹ 28,000; Credit A by ₹ 7,000 and B by ₹ 28,000.]

Solution:-

Q. 32 (b)

Arun and Varun were in partnership sharing profits in the ratio of 2 : 3. With effect from 1st May 2021 they agreed to share profits in the ratio of 1 : 2. For this purpose the goodwill of the firm is to be valued at two year’s purchase of the average profits of last three years, which were ₹ 1,50,000, ₹ 1,40,000 and ₹ 2,20,000 respectively. Reserves appear in the books at ₹ 1,10,000. Partners do not want to distribute the reserves. You are required to give effect to the change by passing a single journal entry.

[Ans. Debit Varun and Credit Arun by ₹ 30,000.]

Solution:-

Here are the solutions of Change in Profit Sharing ratio chapter of DK Goel Class 12 CBSE (2024-25)

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60
61	Question – 61
62	Question – 62