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X and Yare partners in a firm sharing profits and losses in the ratio of 3: 2. Z is admitted as partner with 1/4 shares in profit.

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X and Yare partners in a firm sharing profits and losses in the ratio of 3: 2. Z is admitted as partner with 1/4 shares in profit. Z acquires his share from X and Y in the ratio of 2: 1. Calculate new profit-sharing ratio.

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Old profit sharing Ratio amount partners (X and Y) is 3: 2

New Ratio = Old Ratio - Sacrificing Ratio

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