Question

'A', 'B' and 'C' are partners in a firm sharing profits in the ratio of 2 : 2 : 1. 'A' dies on 31st March, 2018. Accounts are closed on 31st December every year. Sales for the year 2017 amounted * 6,00,000 and sales from 1st January, 2018 to 31st March, 2018 amounted ? 2,00,000. The profit for the year 2017 amounted * 30,000.

Calculate the deceased partner's share in the current year profits. ko​

Answer 1

Answer:

profit for the year 2017 is 30000 and sales is 600000

profit percentage on sale is

30000/600000×100= 5%

sale of period from 1.1.2018 to 31.3.2018

is 200000 so profit for this period is

200000×5%=10000

A share in profit = 10000×2/5=4000