Skip to main content
Super TutorResources
Chapter 3 of 10
Formula Sheet

Reconstitution of Partnership : Admission of a Partner — Formula Sheet

ICSE · Class 12 · Accountancy

6 formulas from Reconstitution of Partnership : Admission of a Partner (ICSE Class 12 Accountancy) on one page, grouped by topic.

68 questions38 flashcards6 formulas & key relations5 concepts

Interactive on Super Tutor

Studying Reconstitution of Partnership : Admission of a Partner? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for formula sheet and more.

Try Super Tutor — Free

Free trial, no card needed.

6 Entries · 2 Sections

Formulas and Key Relations

2) Profit Sharing Ratios

New share = Old share - Sacrifice share

Sacrificing ratio = Old ratio - New ratio

3) Goodwill and Premium for Goodwill

New partner's share of goodwill = Value of firm's goodwill × New partner's share of profit

Average Profit = Total profits / No. of years

Value of goodwill = Average profit (Actual) × No. of years' purchase

Hidden goodwill = New Partner's Capital × Reciprocal share of New Partner - Capital of all partners including new partner after adjustments

Full sheet with units and worked examples

View All

Frequently Asked Questions

What are the important topics in Reconstitution of Partnership : Admission of a Partner for ICSE Class 12 Accountancy?
Key topics in Reconstitution of Partnership : Admission of a Partner include Meaning and Occasions of Reconstitution, New Profit Sharing Ratio and Sacrificing Ratio, Treatment of Goodwill and Hidden Goodwill, Accumulated Profits, Losses, and Specific Funds. Study these first, then practise questions on each for the ICSE Class 12 board exam.
How many formulas are in Reconstitution of Partnership : Admission of a Partner?
This sheet lists 6 formulas from Reconstitution of Partnership : Admission of a Partner, grouped by topic. Learn what each symbol stands for so you can apply the formula, not just recall it.
How should I revise Reconstitution of Partnership : Admission of a Partner for the ICSE Class 12 board exam?
Learn the core ideas first, then work through the 68 practice questions on Reconstitution of Partnership : Admission of a Partner. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Reconstitution of Partnership : Admission of a Partner

All ICSE Class 12 Accountancy Formula Sheet

For serious students

Get the full Reconstitution of Partnership : Admission of a Partner chapter — start free.

Quizzes, flashcards, an AI doubt solver and a study plan for ICSE Class 12 Accountancy. Free to start, no card needed.

Try Super Tutor Free
Try this chapter free