Question

A ,B and C are partners sharing profit amd loss in the ratio 2:2:1 . on march 31,2019 C died . accounts are closed on December 31 every year the sales for the yaer 2018 was ₹600000 and thr profits were ₹60000 the sales for the period from jan 1, 2019 to march 31,2019 were 200000 the share of deceased partner in the current year profit on the basis of sales is​

Answer 1

Answer:

sales of the Year 2018 was rs. 600000 and the profits were rs. 60000

sales from the period 1st jan 2019 to 31. march 2019 were 2,00,000 rs.

profit was 10% of sales for the year 2018

so profit of the 3 months of current year will also be the 10% of sales . i.e 2,00,000 × 10/100 =20,000(profit of firm)

profit share of deceased partner C is

20,000 × 1/5

= 4000 rs.

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