Accountancy, asked by naayra157, 1 month ago

A, B and C entered into partnership on 1st July,2018 to share profits and losses in the ratio of 3:2:1. A personally guaranteed that C’s share of profit after charging interest on capital @6%p.a would not be less than Rs.18,000 p.a. the capital contribution were A: Rs.1,00,000 B: Rs. 50,000 and C Rs.50,000. the profits for the period ended 31st march,2019 were Rs.69,000. Calculate the amount of deficiency borne by A.

Answers

Answered by jeishujaiin
1

Answer:

To Interest on capital By net profit = 69000

A = 6000

B = 3000

C = 3000

To Divisble profits

A = 28500

(-) * = 4000

B = 19000

C = 9500

(+) * = 4000

57000

TOTAL = 69000 TOTAL = 69000

* = Deficiency

Hence A = 24500

B = 19000

C = 13500

A bears 4000 deficiency

As partnership is started on 1 july and year ends on 31 march so deficiency is calculated for 9 months period

i.e. = 18000 x 9/12

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