Question : Divya, Vikas and Varun are partners sharing profits in the ratio of 1/2: 1/8: 3/8 respectively. Vikas retires and surrenders 1/9 th from his share in favour of Divya and the remaining in favour of Varun. gaining ratio and new profit-sharing ratio will be :

Option 1: Gaining ratio 8: 1 and new profit sharing ratio 11: 7

Option 2: Gaining ratio 11: 7 and new profit sharing ratio 8: 1

Option 3: Gaining ratio 4: 2 and new profit sharing ratio 7: 11

Option 4: None of the above

Question : P, Q and R have been sharing profits in the ratio of 8 : 5 : 3. P retires. Q takes 3/16th share from P and R takes 5/16th share from P. New profit sharing ratio will be :

Option 1: 10 : 6

Option 2: 9 : 7

Option 3: 5 : 3

Option 4: 1 : 1

Question : A, B and C are partners sharing profits in the ratio of 7:6:7, B retires and his shares are divided equally between A and C. The New profit-sharing ratio of the remaining partners will be 

Option 1: 1:1

Option 2: 4:5

Option 3: 3:2

Option 4: 2:3

Question : P, Q and  R are partners sharing profits in the ratio of 5: 3: 2. They decided to share future profits in the ratio of 2: 3: 5. What will be the accounting treatment of Workmen Compensation Reserve appearing in the Balance Sheet on that date when no other information is available for the same?

Option 1:  Distributed among partners in their capital ratio

Option 2: Distributed among partners in their new profit-sharing ratio

Option 3: Distributed among partners in their old profit-sharing ratio

Option 4: Carried forward to new Balance Sheet

Question : Hari, Mohan and Sohan are partners sharing profit and losses in the ratio of 5:3:2.  Mohan died. His share  of profit  is to be taken by Hari and sohan in the ratio of 2:1. Calculate the new profit-sharing ratio and also calculate the gaining ratio

Option 1: New ratio 7:3 and Gaining ratio 2:1

Option 2: New ratio 7:3 and Gaining ratio 2:1

Option 3: Both A and B are correct

Option 4: None of the above