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plz solve this cpt problem

adula... (student) (550 Points)

04 February 2009

1. A, B and C are partners with profits sharing ratio 4:3:2. B retires and goodwill Rs. 10800 shown in books of account. If A and C shares profits of B in 5:3, then find the new profit sharing ratio

a. 13:11

b. 17:11

c. 31:11

d. 14:21

2. A, B and C are partners with profits sharing ratio 4:3:2. B retires and goodwill Rs. 10800 shown in books of account. If A and C shares profits of B in 5:3, then find the value of goodwill shared between A and C

a. Rs. 1850 and Rs. 1950

b. Rs. 1650 and Rs. 1750

c. Rs. 2000 and 1600

d. Rs. 1950 and 1650

Answer given

1. a

2 .

It is given in inst materialpg 8.93 and sum num 2

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19 Replies

Vikas Kumar Gupta (Student IPCC) (408 Points)
Replied 05 February 2009

A B C

Old profit sharing ratio 4/9 3/9 2/9

New profit sharing ratio= New-old

5/8-4/9 3/8-2/9

= 13/72 11/72

A:B= OR 13:11

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rakesh khandelwal (JOB) (258 Points)
Replied 05 February 2009

The word is "of B" and not "after B".... therefore the answer is 47:25 ........... for the first qestion

and for the senond the answer is 2250:1350.

adula... (student) (550 Points)
Replied 05 February 2009

@ vikas kumar gupta

I am not getting you ...that how can you subtract ratio instead of adding??

this won't work for other problems

@ rakesh

I think the answer would be 26:11 I am getting

@ both can you explain your methods

thanks a lot

rakesh khandelwal (JOB) (258 Points)
Replied 06 February 2009

A B C

Old profit sharing ratio 4/9 3/9 2/9

Sacrificing ratio = New-old

5/8*3/9 3/8*3/9

= 15/72 9/72

new ration A:B= 15/72+4/9 and for b its 9/72+2/9

OR 47:25

CA Rahul Verma (CA) (546 Points)
Replied 06 February 2009

47:25

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adula... (student) (550 Points)
Replied 06 February 2009

@ every one

thanks a lot.........

Sumit Jain (CA) (4760 Points)
Replied 06 February 2009

for 1st question

answer is 47:25

bcoz 5:3 is gaining ratio

not new ratio

vikas kumar gupta u r wrong

"new profit sharing ratio= new - old

for 2 question

answer is 2250:1350

RANGARAM S (IPCC Student/Share Trading) (155 Points)
Replied 06 February 2009

U mean to say the answer given in the institute material is not correct.I have noticed this type errors in mathematics also.I have already posted a similar problem "Printing errors in CPT Study Materials".I already given a mail to institute also.

Why can't our CA Club experts & ICAI members take this matter seriously and correct the problems ASAP.

rakesh khandelwal (JOB) (258 Points)
Replied 08 February 2009

when i gave cpt .... all goodwill problem in partnership...... were wrongly solved.......

Shobhit Agarwal (M.Com) (36 Points)
Replied 11 February 2009

Originally posted by :adula.....
"	1. A, B and C are partners with profits sharing ratio 4:3:2. B retires and goodwill Rs. 10800 shown in books of account. If A and C shares profits of B in 5:3, then find the new profit sharing ratio a. 13:11 b. 17:11 c. 31:11 d. 14:21 2. A, B and C are partners with profits sharing ratio 4:3:2. B retires and goodwill Rs. 10800 shown in books of account. If A and C shares profits of B in 5:3, then find the value of goodwill shared between A and C a. Rs. 1850 and Rs. 1950 b. Rs. 1650 and Rs. 1750 c. Rs. 2000 and 1600 d. Rs. 1950 and 1650 Answer given 1. b 2 . 2250 and 1350 It is given in inst materialpg 8.93 and sum num 2	"

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RANGARAM S (IPCC Student/Share Trading) (155 Points)
Replied 13 February 2009

Hi Shobhit,

What do u say. is the answer given 1.b correct. if so, please explain.

srilakshmi (ca final) (369 Points)
Replied 17 February 2009

the answer is 47:25

VISHWAS (TAX ADVISORY) (28 Points)
Replied 19 February 2009

Originally posted by :adula.....
"	1. A, B and C are partners with profits sharing ratio 4:3:2. B retires and goodwill Rs. 10800 shown in books of account. If A and C shares profits of B in 5:3, then find the new profit sharing ratio a. 13:11 b. 17:11 c. 31:11 d. 14:21 2. A, B and C are partners with profits sharing ratio 4:3:2. B retires and goodwill Rs. 10800 shown in books of account. If A and C shares profits of B in 5:3, then find the value of goodwill shared between A and C a. Rs. 1850 and Rs. 1950 b. Rs. 1650 and Rs. 1750 c. Rs. 2000 and 1600 d. Rs. 1950 and 1650 Answer given 1. a 2 . It is given in inst materialpg 8.93 and sum num 2	"

old profit sharing ratio is 4/9,3/9,2/9

and new profit sharing ratio is 5/8 : 3/8

sacrifying ratio=new ratio -old ratio

5/8-4/9=13/72 And 3/8-2/9=11/72 hence ratio =13:11 therefor option "a" is correct

VISHWAS (TAX ADVISORY) (28 Points)
Replied 19 February 2009

Originally posted by :adula.....
"	1. A, B and C are partners with profits sharing ratio 4:3:2. B retires and goodwill Rs. 10800 shown in books of account. If A and C shares profits of B in 5:3, then find the new profit sharing ratio a. 13:11 b. 17:11 c. 31:11 d. 14:21 2. A, B and C are partners with profits sharing ratio 4:3:2. B retires and goodwill Rs. 10800 shown in books of account. If A and C shares profits of B in 5:3, then find the value of goodwill shared between A and C a. Rs. 1850 and Rs. 1950 b. Rs. 1650 and Rs. 1750 c. Rs. 2000 and 1600 d. Rs. 1950 and 1650 Answer given 1. a 2 . It is given in inst materialpg 8.93 and sum num 2	"