Question

P, Q and R were partners sharing profit in the ratio of their capital which were 600000, 400000 and 500000 respectively. Their books are closed on 31st march every year. P dies on 24th August,2018. Under the partnership deed, deceased partner is entitled to his share of profit/loss to the date of death based on the average profit of preceding three years. profit were 2015-50000; 2016-120000(loss); 2017-30000 and 2018-60000. Find P's share of profit/losss ?

Answer 1

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