Question

Bhuvan and Bharath entered into partnership for textile shop on April 01, 2016

without any Partnership agreement. They introduced Capitals of Rs. 2,50,000 and Rs.

150,000 respectively. Bhuvan brought Rs, 20,000 by way of loan to the firm without any

agreement as to interest. Profit and Loss account for the year ended March 2017 showed

profit of Rs, 60000. You are required to divide the profits between them giving reason for

your solution.​

Answer 1

Answer:

Bhuvan gets profit of 38, 571/-and Bharath gets profit of 21,428/-

Explanation:

As mentioned in the question

Total investment of Bhuvan is 2,70,000/- and Bharath investment is 1,50,000/-

Their investment is in the ratio of 9:5

Profit for Bhuvan is 9/14*60,000=38,571/-

Profit for Bharath is 5/14*60,000=21,428/-

Hope you are satisfied with the answer

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