Reconstitution of a Partnership Firm

What leads to the reconstitution of a partnership firm?

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What aspects are involved in ascertaining the amount due to a retiring or deceased partner?

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What is the new profit sharing ratio?

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What is the gaining ratio?

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Distinguish between Gaining Ratio and Sacrificing Ratio in terms of: 1. Meaning 2. Effect on Partner’s Share of Profit 3. Mode of calculation 4. When to calculate

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Madhu, Neha and Tina are partners sharing profits in the ratio of 5:3:2. Calculate new profit sharing ratio and gaining ratio if Madhu retires.

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Alka, Harpreet and Shreya are partners sharing profits in the ratio of 3:2:1. Alka retires and her share is taken up by Harpreet and Shreya in the ratio of 3:2. Calculate the new profit sharing ratio.

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Murli, Naveen and Omprakash are partners sharing profits in the ratio of 3:8:1. Murli retires and surrenders 2/3rd of his share in favour of Naveen and the remaining share in favour of Omprakash. Calculate new profit sharing and the gaining ratio of the remaining partners.

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Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3:2:1:4. Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of 3:2. Calculate new profit sharing ratio and gaining ratio of the remaining partners.

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Ranjana, Sadhna and Kamana are partners sharing profits in the ratio of 4:3:2. Ranjana retires; Sadhna and Kamana decided to share profits in future in the ratio of 5:3. Calculate the Gaining Ratio.

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