A, B and C were Partners with capitals of ₹50,000; ₹40,000 and ? 30,000 respectively carrying on
business in partnership. The firm’s reported profit for the year was ₹80,000. As per provision of the
Indian Partnership Act, 1932, find out the share of each partner in the above amount after taking into
account that no interest has been provided on an advance by A of ₹20,000 in addition to his capital
contribution. (1)
(A) ₹26,267 for Partner B and C and ₹27,466 for Partner A.
(B) ₹26,267 each partner.
(C) ₹33,333 for A ₹26,667 for B and ₹20,000 for C.
(D) ₹30,000 each partner.
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