Question

Jaspal and Rosy were partners with capital contribution of ₹ 10,00,000 and ₹ 5,00,000 respectively. They do not have a Partnership Deed. Jaspal wants that profits of the firm should be shared in their capital ratio. Rosy convinced jaspal that profits should be shared equally. Explain how Rosy would have convinced Jaspal for sharing the profit equally.

Answer 1

Answer:

plz explaine me the entirw questio

Answer 2

Rosy can convince Jaspal based on Partnership Act.

Explanation:

According to the provisions given in Partnership Act, 1932, in case there is no agreement specified about the distribution of profits, then it has to be distributed equally. In the given case, Jaspal and Rosy do not have a ‘partnership deed’. So, they have to follow the provision of Partnership Act.

Thus, Rosy can convince that Jaspal’s view of sharing profit in capital ratio is incorrect and it should be distributed equally.