Question

A and B are partners . C is admitted with a guarantee profit of RS 10000 from A . New profit- sharing ratio is 3:2:1. Profit for the year 2019-2020 is RS 1,20,000 .C will get :

(a) 10000
(b) 30000
(c) 20000
(d) none of these.

PLEASE ANSWER IT FAST​

Answer 1

Answer:

C's share = 1/6×1,20,000 = 20,000

option C 20,000

since guarantee is considered when C gets the profit less than 10,000 but in our case he is getting 20,000 in excess of amount guaranteed