Question : If total assets of a firm are Rs.12,00,000 and total liabilities are Rs.2,40,000, what will be the capitals of P, Q and R if they share profits in the ratio of their capitals and profit sharing ratio is 1 : 2 : 3 -
Option 1: P: Rs.4,80,000; Q: Rs.3,20,000; R: Rs.1,60,000
Option 2: P: Rs.1,60,000; Q: Rs. 3,20,000; R: Rs. 4,80,000
Option 3: P: Rs. 2,00,000; Q: Rs. 4,00,000; R: Rs. 6,00,000
Option 4: P: Rs. 6,00,000; Q: Rs. 4,00,000; R: Rs. 2,00,000
Correct Answer: P: Rs.1,60,000; Q: Rs. 3,20,000; R: Rs. 4,80,000
Solution : Total capital balance is = 1200000 - 240000 = 960000
P's capital will be = 960000 * 1 / 6 = 160000
Q's capital will be = 960000 * 2 / 6 = 320000
R's capital will be = 960000 * 3 / 6 = 480000
Hence the correct answer is option 2.
