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What is New Profit Sharing Ratio Calculation about?

Mr. A and Mr. B were partners sharing profits in a 2:3 ratio. Mr. C was admitted as a new partner with a 1/5 share of future profits. To calculate the new profit sharing ratio, the sacrifice ratio of Mr. A giving up 0.4 of his share and Mr. B giving up 0.6 of his share was first determined. Then the new profit sharing ratio of Mr. A receiving 1.6, Mr. B receiving 2.4, and Mr. C receiving 1.0 was calculated.

Author

smazharali121

Language

EN