[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:-
![](https://commerceschool.in/wp-content/uploads/2024/08/1-5-1024x238.webp)
![](https://commerceschool.in/wp-content/uploads/2024/08/2-5-1024x650.webp)
![](https://commerceschool.in/wp-content/uploads/2024/08/3-5-1024x656.webp)
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:-
![](https://commerceschool.in/wp-content/uploads/2024/08/4-2-1024x179.webp)
![](https://commerceschool.in/wp-content/uploads/2024/08/5-1-1024x447.webp)
![](https://commerceschool.in/wp-content/uploads/2024/08/7-1024x538.webp)
![](https://commerceschool.in/wp-content/uploads/2024/08/6-1024x469.webp)