Question

A, B and C are partners in a firm without any agreement. They have contributed 750,000, 730,000 and 720,000 by way of capital in the firm. A was unable to work for six months in a year due to illness. At the end of year, firm earned a pro lit of 7 15,000. A’s share in the profit will be :

Answer 1

Answer:

A's Share in the profit will be =238333.33

Explanation:

As there partnership deed is silent

and where partnership deed is silent the profit is shared equally.

so, A's profit= 715000 × 1/3 =238333.33

Answer 2

"7500"

Explanation:

Capitals of Partners:

    A = 50000

    B = 30000

    C = 20000

Therefore Profit sharing ratio = 5 : 3 : 2

Profit earned during the year = 15000

A = 15000 x 5/10 = 7500