15 Views

Question : A, B, and C are partners in a business where they split profits and losses 2: 2: 1. C died on March 31, 2022. Each year on December 31st, accounts are closed. Sales for 2021 totaled Rs. 6,00,000, and profits came to Rs. 60,000. From January 1 to March 31, 2022, there were Rs. 2,00,000 sales. The dead partner's share of the sales-based profit for the current year is:

Option 1: Rs.3,000

Option 2: Rs.4,000

Option 3: Rs.20,000

Option 4: Rs.8,000


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 10th Jan, 2024

Correct Answer: Rs.4,000


Solution : % of Profit on sales = 60000 / 600000   = 10%

Hence Profit on Rs.200000 sales which were made from 1 january to 31 march 2022 is Rs.20000 (200000 * 10%)

Profit sharing ratio = 2 : 2: 1

So share of C is Rs.20000 * 1 / 5   = Rs.4000

Hence the correct answer is option 2.

Related Questions

Nirma University MBA Admissio...
Apply
Highest CTC 70 LPA | Avg CTC 11.22 LPA | Ranked #55 by NIRF
ISBR Business School PGDM Adm...
Apply
Ranked as Platinum Institute by AICTE for 5 years in a row | Awarded Best Business School of the Year
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Application Deadline: 1st Dec 2024
Bharathidasan Institute of Ma...
Apply
#94 in Management Category by NIRF | AACSB Member | AICTE Approved
FORE School of Management PGD...
Apply
AICTE Approved | NBA & SAQS Accredited | Ranked #53 by NIRF 2024 | Highest CTC: 70 LPA | Avg. CTC: 16.01 LPA
ICFAI Business School-IBSAT 2024
Apply
9 IBS Campuses | Scholarships Worth Rs 10 CR
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books