Sule and Ahmed are in partnership sharing profit and losses equally. If Khadija is admitted as a new partner to take 1/5 th as her share. What is the new profit or loss sharing?

  • A Sule1/3, Ahmed1/3, Khadija 1/3
  • B Sule1/3, Ahmed1/3, Khadija 1/3
  • C Sule1/5, Ahmed1/5, Khadija3/5
  • D Sule2/5, Ahmed1/5, Khadija2/5
jamb 2018accounting

The correct answer is B. Sule1/3, Ahmed1/3, Khadija 1/3

If Khadija is to take 1/5th i.e. 20%

  Sule and Ahmed are to share 80% (100% - 20%) equally

  Sule = 2/5

  Ahmed = 2/5

  Khadija = 1/5

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