Question : Ram Mohan and Anil were partners in a firm sharing profits in a 2:2:1 ratio. The firm closes its books on 31st March every year. Mohan died on 24-8-2017. On Mohan’s death, the goodwill of the firm was valued at Rs.75,000. The partnership deed provided that on the death of a partner, his share in the profits of the firm in the year of his death will be calculated on the basis of last year’s profit. The profit of the firm for the year ended 31-3-2017 was Rs.2,00,000. Q. Number of Days up to the date of death is
Option 1: 146 days
Option 2: 132 days
Option 3: 73 days
Option 4: 85 days
Correct Answer: 146 days
Solution : Answer = 146 days
Number of Days = 146 Hence, the correct option is 1.
Question : Ram Mohan and Anil were partners in a firm sharing profits in a 2:2:1 ratio. The firm closes its books on 31st March every year. Mohan died on 24-8-2017. On Mohan’s death, the goodwill of the firm was valued at Rs.75,000. The partnership deed provided that on
Question : A, B and C were partners in a firm sharing profits in the ratio of 2:2:1.
The firm closes its books on 31st March, every year. On 31-12-2015 C died. On that date, his Capital account showed a credit balance of Rs.3,80,000 and Goodwill of the firm was valued
Question : In the partnership agreement between R Sand T who were sharing profits in the ratio of 5 : 3 : 2, the goodwill was to be valued on the death of any partner on the basis of such partner’s share of 2 year’s profits calculated on the average of 5 year’s
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