Question

A,B,C are three partners with a capital of Rs. 8,00,000 , Rs. 12,00,000, Rs. 15,00,000 and they decide to share their profit according to the ratio of their capital .But A is working partner and takes 12 1/2% of total profit as salary.If A receives Rs. 5200 from the business. Find the amount of total profit?​

Answer 1

Answer:

Answer

PARTNERS CAPITAL ACCOUNT

Particulars A B C Particulars A B C

To profit and loss A/c 1,50,000 1,50,000 NIL By bal b/d 10,00,000 8,00,000 6,00,000

To C's capital 50,000 50,000 By A' capital 50,000

To bal c/d 8,00,000 6,00,000 7,00,000 By B's capital 50,000

Total 10,00,000 8,00,000 7,00,000 Total 10,00,000 8,00,000 7,00,000

Year C's guaranteed profit Actual share Deficiency

2018 1,00,000 (1,00,000) 1,00,000

The C's deficiency of 1,00,000 is to be made good by A and B the ratio of 1:1.

So,each need to contribute 50,000.