{"id":85938,"date":"2021-10-06T18:46:00","date_gmt":"2021-10-06T13:16:00","guid":{"rendered":"https:\/\/www.kopykitab.com\/blog\/?p=85938"},"modified":"2021-10-12T19:33:54","modified_gmt":"2021-10-12T14:03:54","slug":"ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4","status":"publish","type":"post","link":"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/","title":{"rendered":"TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change In Profit &#8211; Sharing Ratio Among The Existing Partners 2021-22"},"content":{"rendered":"\n<p><img class=\"alignnone size-full wp-image-136229\" src=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/10\/Chapter-4-Change-in-Profit-Sharing-Ratio-among-the-Existing-Partners.jpg\" alt=\"TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 - Change in Profit - Sharing Ratio among the Existing Partners\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/10\/Chapter-4-Change-in-Profit-Sharing-Ratio-among-the-Existing-Partners.jpg 1200w, https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/10\/Chapter-4-Change-in-Profit-Sharing-Ratio-among-the-Existing-Partners-768x432.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><span data-preserver-spaces=\"true\"><strong>TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4<\/strong> pdf will be provided in this article. Chapter 4 is all about Goodwill- Nature and Valuation. You can easily download Class 12 TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 pdf by clicking on the link providing below in this article.&nbsp;<\/span><\/p>\n<ul>\n<li>Read More: <a href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions\/\" target=\"_blank\" rel=\"noopener\">TS Grewal Class 12 Solutions&nbsp;<\/a><\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_47_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69db3610c88f2\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69db3610c88f2\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-visibility-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/#download-ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4-pdf\" title=\"Download TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 PDF&nbsp;&nbsp;\">Download TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 PDF&nbsp;&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/#detailed-topics-%e2%80%93-ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\" title=\"Detailed Topics &#8211; TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4&nbsp; &nbsp;\">Detailed Topics &#8211; TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4&nbsp; &nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/#ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4-%e2%80%93-sample-questions\" title=\"TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Sample Questions&nbsp;&nbsp;\">TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Sample Questions&nbsp;&nbsp;<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/#faq-ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4-%e2%80%93-change-in-profit-%e2%80%93-sharing-ratio-among-the-existing-partners\" title=\"FAQ: TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change in Profit &#8211; Sharing Ratio among the Existing Partners\">FAQ: TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change in Profit &#8211; Sharing Ratio among the Existing Partners<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/#can-i-download-a-free-pdf-for-ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4-%e2%80%93-change-in-profit-%e2%80%93-sharing-ratio-among-the-existing-partners\" title=\"Can I download a Free PDF for TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change in Profit &#8211; Sharing Ratio among the Existing Partners? \">Can I download a Free PDF for TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change in Profit &#8211; Sharing Ratio among the Existing Partners? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/#what-does-the-change-in-profit-sharing-ratio\" title=\"What does the change in profit sharing ratio?\">What does the change in profit sharing ratio?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/#what-is-the-result-of-a-change-in-profit-sharing-ratio\" title=\"What is the result of a change in profit sharing ratio?\">What is the result of a change in profit sharing ratio?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/#what-is-meant-by-the-new-profit-sharing-ratio\" title=\"What is meant by the new profit sharing ratio?\">What is meant by the new profit sharing ratio?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"download-ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4-pdf\"><\/span><span data-preserver-spaces=\"true\">Download TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 PDF&nbsp;&nbsp;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/TS-Grewal-Class-12-Accountancy-Solutions-Vol-1-Chapter-4.pdf\">TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4<\/a><\/p>\n<div id=\"example1\" style=\"text-align: justify;\">&nbsp;<\/div>\n<p style=\"text-align: justify;\"><style>\n.pdfobject-container { height: 500px;}<br \/>\n.pdfobject { border: 1px solid #666; }<br \/>\n<\/style><\/p>\n<p style=\"text-align: justify;\"><script src=\"https:\/\/www.kopykitab.com\/_utility\/js\/pdfobject.min.js\"><\/script><br><script>PDFObject.embed(\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/TS-Grewal-Class-12-Accountancy-Solutions-Vol-1-Chapter-4.pdf\", \"#example1\");<\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"detailed-topics-%e2%80%93-ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\"><\/span><span data-preserver-spaces=\"true\">Detailed Topics &#8211; TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4&nbsp; &nbsp;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In this chapter, the students will learn about how the profit-sharing ratio is changed among the existing partners of the firm.&nbsp;&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A firm is reconstituted in the event of:&nbsp;&nbsp;<\/span><\/p>\n<ol>\n<li><span data-preserver-spaces=\"true\">Change in the Profit Sharing Ratio among the existing partners&nbsp;<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Admission of a Partner&nbsp;&nbsp;<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Retirement of a Partner&nbsp;&nbsp;<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Death of a Partner&nbsp;&nbsp;<\/span><\/li>\n<\/ol>\n<p><span data-preserver-spaces=\"true\">Adjustments for change in Profit sharing ratio&nbsp;&nbsp;<\/span><\/p>\n<ol>\n<li><span data-preserver-spaces=\"true\">Determination of sacrificing and gaining ratio&nbsp;&nbsp;<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Accounting treatment of goodwill&nbsp;&nbsp;<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Accounting treatment of reserves, accumulated Profits, and losses&nbsp;&nbsp;<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Revaluation of assets and re-assessments of liabilities&nbsp;&nbsp;<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Adjustment of capital&nbsp;&nbsp;<\/span><\/li>\n<\/ol>\n<p><span data-preserver-spaces=\"true\">Sacrificing Ratio: It is the ratio by which one or more partner of a firm sacrifices their share of profits in favor of one or more partners of the firm. This ratio is calculated by taking out the difference between the old profit share and the new profit share. <br><\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Gaining ratio: It is the ratio by which one or more partners gain a share of profits as a result of sacrificed share in Profits by one or more partners of the firm.&nbsp; the ratio is calculated by taking out the difference between the new profit share and the old profit share. <br><\/span><\/p>\n<p>Goodwill: Accounting treatment of Goodwill, treatment of existing goodwill, hidden goodwill.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4-%e2%80%93-sample-questions\"><\/span><span data-preserver-spaces=\"true\">TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Sample Questions&nbsp;&nbsp;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In this section, the students will get TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 Sample Question. These will provide a glimpse of the questions.&nbsp;&nbsp;<\/span><\/p>\n<p><strong>Q1. Why is the revaluation of assets on reconstitution of partners necessary?&nbsp;&nbsp;<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">A. At the time of admission of a new partner, it is very important to re-value the assets and liabilities of a partnership firm for ascertaining its fair values. This is done because the value of assets and liabilities may have increased or decreased and consequently their corresponding figures in the old balance sheet may either understand or overstated. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Moreover, it may also be possible that some of the assets and liabilities are left unrecorded. Thus, to record the increase and decrease in the Market Value of the assets and liabilities. A revaluation Account is prepared and any profits or losses associated with this increase or decrease are distributed among the old partners of the firm.&nbsp;<\/span><\/p>\n<p><strong>Q2. X, Y, And Z are sharing Profit and losses in the ratio of 5:3:2. With the effect from 1st April 2018, they decided to share the profits and losses in the Ratio of 5:2:3. Calculate each partner\u2019s gain or sacrifice due to the change in the ratio.&nbsp;<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">A. Old Ratio X:Y:Z = 5:3:2&nbsp;&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">&nbsp; &nbsp;&nbsp;New Ratio X:Y:Z = 5:2:3&nbsp;&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">&nbsp; &nbsp;&nbsp;Sacrificing ratio = Old ratio \u2013 new ratio&nbsp;&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">X\u2019s sacrifice = 5\/10 \u2013 5\/10 = No gain or sacrifice&nbsp;&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Y\u2019s sacrifice = 3\/10 \u2013 2\/10 = 1\/10 (Sacrifice)&nbsp;&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Z\u2019s sacrifice= 2\/10 \u2013 3\/10 = 1\/10 (Gain)&nbsp;&nbsp;<\/span><\/p>\n<p><strong>Q3. State the ratio in which the partners share accumulated Profits when there is a change in the profit-sharing ratio among existing partners.&nbsp;&nbsp;<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">A. Partners share profits or losses on the revaluation of assets and liabilities in their old Profit sharing ratio or existing Profit sharing ratio.&nbsp;&nbsp;<\/span><\/p>\n<p>We have included complete information regarding <span data-preserver-spaces=\"true\"><a href=\"http:\/\/www.cbse.gov.in\" target=\"_blank\" rel=\"noopener\">CBSE<\/a> TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change in Profit &#8211; Sharing Ratio among the Existing Partners. If you have any questions feel free to ask in the comment section.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"faq-ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4-%e2%80%93-change-in-profit-%e2%80%93-sharing-ratio-among-the-existing-partners\"><\/span>FAQ: TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change in Profit &#8211; Sharing Ratio among the Existing Partners<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1633526028444\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"can-i-download-a-free-pdf-for-ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4-%e2%80%93-change-in-profit-%e2%80%93-sharing-ratio-among-the-existing-partners\"><\/span>Can I download a Free PDF for TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change in Profit &#8211; Sharing Ratio among the Existing Partners? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes, you can download a free PDF for TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change in Profit &#8211; Sharing Ratio among the Existing Partners. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1633526047989\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-does-the-change-in-profit-sharing-ratio\"><\/span>What does the change in profit sharing ratio?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>A Change in profit sharing ratio means\u00a0one or more partners acquire interest from another partner or partners. The share of profit of one or more partner (s) increases\/decreases the share of one or more partner (s) decreases\/increases to the same extent.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1633526052514\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-is-the-result-of-a-change-in-profit-sharing-ratio\"><\/span>What is the result of a change in profit sharing ratio?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Change in profit-sharing ratio of the existing partners results\u00a0in the reconstitution of the partnership firm.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1633526053513\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-is-meant-by-the-new-profit-sharing-ratio\"><\/span>What is meant by the new profit sharing ratio?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The new profit sharing ratio is the\u00a0ratio in which all the partners, including new or incoming partners, will share future profits and losses of the firm.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 pdf will be provided in this article. Chapter 4 is all about Goodwill- Nature and Valuation. You can easily download Class 12 TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 pdf by clicking on the link providing below in this article.&nbsp; Read More: &#8230; <a title=\"TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change In Profit &#8211; Sharing Ratio Among The Existing Partners 2021-22\" class=\"read-more\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-12-accountancy-solutions-vol-1-chapter-4\/\" aria-label=\"More on TS Grewal Class 12 Accountancy Solutions Vol 1 Chapter 4 &#8211; Change In Profit &#8211; Sharing Ratio Among The Existing Partners 2021-22\">Read more<\/a><\/p>\n","protected":false},"author":244,"featured_media":136229,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":""},"categories":[1,2917,73693,2985],"tags":[75091,3429,75094],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/85938"}],"collection":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/users\/244"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/comments?post=85938"}],"version-history":[{"count":5,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/85938\/revisions"}],"predecessor-version":[{"id":138266,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/85938\/revisions\/138266"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media\/136229"}],"wp:attachment":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media?parent=85938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/categories?post=85938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/tags?post=85938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}