Sarthaks Test
0 votes
in Accounts by (64.1k points)

A, B and C were partners sharing profits and losses in the ratio of 2:2:1. C died on 31st March 2016. Profits and Sales for the calendar year 2015 were Rs.1,00,000 and Rs.10,00,000 respectively. Sales during January to March 2016 were Rs.1,50,000 . You are required to calculate share of profit of C up to the death

1 Answer

0 votes
by (106k points)
selected by
Best answer

Profit from Jan. 01 to March 31,2016 on the basis of profit Ratio of 2014 =1,50,00 x 10/100 =Rs.15,000

C's profit share ( from jan to march 31,2016 ) = 15,000 x 1/5 =Rs.3,000

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.