19. Sahaj and Gauri are partners sharing profits in the ratio of 2 : 1. Their combined fixed capital was? 6,00,000. The Partnership Deed provided that Sahaj will get a commission ₹ of 10% on the profit after allowing a salary of 5,000 per month to Gauri. Net profit of the firm for the year ending 31st March, 2021 was 2,80,000. 200.000 form wil be
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Explanation:
(a) Adjusted Compined Capital of the Old Partners:
=RS.1,42,433+RS.91,217=RS.2,33,650.
(b) Total Capital of the New Firm:
=Adjusted Combined Capital of the Old PartnersCombined Share of Profit of the Old Partners
=RS.2,33,650×3/2=RS.3,50,475.
(c) Calculation of Gauri's Proportionate Capital:
=RS.3,50,475×1/3=RS.1,16,825.
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