X,Y and Z are partners sharing in the ratio of 2:2:1 Y retires and his share is entirely taken - Accountancy - Bank Reconciliation Statement

Question

X,Y and Z are partners sharing in the ratio of 2:2:1 Y retires
and his share is entirely taken by Z Calculate the new ratio

Komal Verma · Accepted Answer

Old Ratio (X,Y and Z) = 2 : 2 : 1 Y retires from the firm and his entire share is acquired by Z

So, New Profit Sharing Ratio (X and Z) = 2 : 3

X,Y and Z are partners sharing in the ratio of 2:2:1. Y retires and his share is entirely taken by Z. Calculate the new ratio