Question

.

9 Rex, Tex and Flex are partners in a firm in the ratio of

5:3:2. As per their partnership agreement, the share of

deceased partner is to be calculated on the basis of

profits and turnover of previous accounting year.

Tex expired on 31st December 2019. Turnover till the

date of death was `18,00,000.

Their profits and turnover for the year 2018-19

amounted to `4,00,000 and `20,00,000 respectively.

An amount of `______will be given to his executors as

his share of profits till the date of death​

Answer 1

Answer:

An amount of ` Rs.540000 will be given to his executors as his share of profit till the date of death

Answer 2

Answer:

1,08,000

Explanation:

The Question is framed wrongly. It should be the share of deceased partner is to be calculated on the basis of ratio of profits to turnover of previous accounting year.

In that case , Previous year 4,00,000/20,00,000*100 = 20%

and Current year keep the ratio intact to 20%( Turnover given Rs. 18,00,000 and hence we can find proportionate profit = Rs. 3,60,000)

Hence, 18,00,000*20%*3/10 = Rs. 1,08,000

However, if such Qs come in board, one should be alert that you cannot give share on the basis of profit and turnover, so it obviously means ratio of profit to turnover