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 31st December 2017. The profit for the year ending 31st March 2017 amounted to Rs.60,000.
The deceased partner’s share in the current year’s profits of the firm will be
Option 1: Rs 24,000
Option 2: Rs 18,000
Option 3: Rs 10,000
Option 4: Rs 22,000
Correct Answer: Rs 22,000
Solution : Answer = Rs 22,000
A's Share of Profit = $\frac{60,000}{4,00,000}\times 3,30,000 = 49500\times\frac{4}{9}$ = $22000$ Hence, the correct option is 4.
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.
Question : Sharma, Verma and Goyal are partners in a firm. On 1st April 2012 the balances in their Capital Accounts were as follows: Sharma Rs. 4,00,000; Verma Rs. 4,20,000 and Goyal Rs. 3,70,000. The firm closes its accounts every year on 31st March. Verma died on 30th September
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