Question : E, D and R are partners, sharing profits in the ratio of 2:2:1. D died on 30th June 2020 and profits for the accounting year 2019-20 were Rs. 36,000. The share of profit will be credited to Diya, for the period 1st April. 2020 to 30th June, 2020 is____________.
Option 1: Rs 3,000
Option 2: Rs 3,600
Option 3: Rs 2,600
Option 4: None of the above
Correct Answer: Rs 3,600
Solution : Answer = Rs 3600 Profit= 36,000 D's share= $36,000 \times \frac{2}{5}$= $14,400 \times \frac{3}{12}$= Rs 3,600 Hence, the correct option is 2.
Question : A, B and C were partners sharing profits in the ratio of 1: 2: 2. B died on 30th June 2020 and the profit for the accounting year ended 31st March 2020 was Rs. 36,000. If the profit share of a deceased partner is to be calculated based on previous year's profit, the amount
Question : R, M and P were partners in a firm. P died on 29th February, 2020. His share of profit from the closure of the last accounting year till the date of death was to be calculated on the basis of the average of three completed years of profits before death. Profits for
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