Answer

Verified

348.3k+ views

**Hint:**For calculating new capital balances we have to find new capital ratios of X, Y and Z . We subtract the share fraction of Z from 1 to calculate the fraction of X and Y . We find the contribution of X and Y by New ratio = Old ratio x Remaining share of A and B

Now we take the ratio of X,Y and Z . Then we will find the distribution of goodwill amount of Z to X and Y . Then sum up the capital balances and the amount added to find the new capital income.

**Complete step-by-step solution:**

Old ratio = 4 : 3

The shares of X and Y are $\dfrac{4}{7}$, $\dfrac{3}{7}$ of the total net income.

The portion of X and y in new share = 1- Share of Z in new share of net income

$ 1 - \dfrac{1}{8} \\

= \dfrac{7}{8} $

New ratio = Old ratio x Remaining share of A and B

$

X = \dfrac{4}{7} \times \dfrac{7}{8} \\

= \dfrac{4}{8} \\ $

$ Y = \dfrac{3}{7} \times \dfrac{7}{8} \\

= \dfrac{3}{8} \\$

The new ratio of share of net income among X , Y and Z is

$ \dfrac{4}{8}:\dfrac{3}{8}:\dfrac{1}{8} \\

= 4:3:1 $

Hence the new ratio of share =4:3:1

Z brings Rs.4200 for goodwill.

The sacrificing ratio of Z to X and Y is 4:3

For X the amount added from Z is

$ \dfrac{4}{7} \times 4200 = 4 \times 600 \\

= 2400 \\ $

For Y the amount added from Z is

\[ \dfrac{3}{7} \times 4200 = 3 \times 600 \\

= 1800 \]

So the amount shared to X and Y is Rs.2,400 and Rs.1,800 respectively.

The new capital balance are for A is \[10,000 + 2,400 = 12,400\] rupees

The new capital balance of Y is $8,000 + 1800 = 9800$rupees

**The new capital balance of Z is 6,000 rupees**

**Note:**: It is necessary to ascertain the new profit sharing ratio even for the old partners when the new partner is admitted to the firm because with the admission of the new partner in the firm the new profit sharing ratios are introduced as the new partner gains the profit sharing ratio from the old partners of the firm.

Recently Updated Pages

How many sigma and pi bonds are present in HCequiv class 11 chemistry CBSE

Why Are Noble Gases NonReactive class 11 chemistry CBSE

Let X and Y be the sets of all positive divisors of class 11 maths CBSE

Let x and y be 2 real numbers which satisfy the equations class 11 maths CBSE

Let x 4log 2sqrt 9k 1 + 7 and y dfrac132log 2sqrt5 class 11 maths CBSE

Let x22ax+b20 and x22bx+a20 be two equations Then the class 11 maths CBSE

Trending doubts

Which are the Top 10 Largest Countries of the World?

Fill the blanks with the suitable prepositions 1 The class 9 english CBSE

Write a letter to the principal requesting him to grant class 10 english CBSE

Summary of the poem Where the Mind is Without Fear class 8 english CBSE

Difference Between Plant Cell and Animal Cell

Difference between Prokaryotic cell and Eukaryotic class 11 biology CBSE

Give 10 examples for herbs , shrubs , climbers , creepers

Change the following sentences into negative and interrogative class 10 english CBSE

Differentiate between homogeneous and heterogeneous class 12 chemistry CBSE