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
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.
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Question : A, B and S were partners sharing profits in the ratio 2: 2: 1. On July 1, 2017, Shreya died. The books of accounts are closed on March 31 every year. Sales for the year 2016-17 amounted to Rs.5,00,000 and that from 1st April to 30th June 2017 were Rs. 1,40,000. The rate of
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