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.
Question : A, B and C are sharing profits in the ratio of 4:3:2. A dies on 31st December 2017. Accounts are closed on 31st March every year. Sales for the year ending 31st March 2017 amounted to Rs.4,00,000. Sales of Rs.3,30,000 amounted between the period from 1st April 2017 to
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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