Question

Discuss the various methods of computing the share in profit in the case of death of a partner

Answer 1

Thereafter, the profit of the current year is estimated on the basis of the sales for the last year and the sales upto the date of death. A, B and C are sharing profits in the ratio of 3: 2: 1.. Calculate the deceased partner's share in the current year's profits.

Answer 2

Answer:

Thereafter, the profit of the current year is estimated on the basis of the sales for the last year and the sales upto the date of death. A, B and C are sharing profits in the ratio of 3: 2: 1.. Calculate the deceased partner's share in the current year's profits.