A, B and C are partners in a firm sharing profits in the ratio 2 : 2 : 1. C is given a guaranteed minimum profit of Rs. 20,000 every year. If profit of the firm during 2020-21 is Rs. 80,000, partners will get:
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A=(80,000*2/5)=32,000/-
B=(80,000*2/5)=32,000/-
C=(80,000*1/5)=16,000/-
C guaranteed at Rs:20,000/-. So,(80,000-20,000)=60,000 will be shared between A,B in 2:2 ratio.
Hence,A=(60,000*2/4)=30,000/-
B=(60,000*2/4)=30,000/-
B=(80,000*2/5)=32,000/-
C=(80,000*1/5)=16,000/-
C guaranteed at Rs:20,000/-. So,(80,000-20,000)=60,000 will be shared between A,B in 2:2 ratio.
Hence,A=(60,000*2/4)=30,000/-
B=(60,000*2/4)=30,000/-
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