Q. 39. On 1st April, 2018 X Y and Z started a
contributes 290,000 at first but withdraws 30,000 at the end of six months. Y
introduces 375,000 at first and increases it to 290,000 at the end of four months, but withdraw 30000 at the end of 8 months .Z brings in 75000at first but increase it by 60000 at the end of seven months .
During the year ended 31 mar 2019 they make a net profit of 42000 . Show how the partners should divide this amount on the basis of effective capital employed by each partner
Answers
Profit-sharing ratio should be 30:31:40
Explanation:
Calculation of Total capital employed by X
1.4.15 Capital Employed = [Rs.90,000\times6 months][Rs.90,000×6months]
= Rs.5,40,000
30.9.15 Capital Employed = [Rs.60,000(90,000-30,000)\times 6 months][Rs.60,000(90,000−30,000)×6months]
= Rs.3,60,000
Therefore,Total Capital Employed by X = Rs.5,40,000+Rs.3,60,000Rs.5,40,000+Rs.3,60,000
= Rs.9,00,000
Calculation of Total Capital employed by Y
1.4.15 Capital Employed = [Rs.75000\times4 months][Rs.75000×4months]
= Rs.3,00,000
31.7.15 Capital Employed = [Rs.90,000(75000+15000)\times 5][Rs.90,000(75000+15000)×5]
= Rs.4,50,000
31.12.15 Capital Employed = [Rs.60,000(90,000-30,000)\times 3][Rs.60,000(90,000−30,000)×3]
= Rs.1,80,000
Therefore,Total Capital Employed by Y = [3,00,000+4,50,000+1,80,000][3,00,000+4,50,000+1,80,000]
= Rs.9,30,000.
Calculation of Total Capital Employed by Z
1.4.15 Capital Employed = 75000\times 775000×7 = Rs.525000
31.10.15 Capital Employed = 135000\times5135000×5 = Rs.675000
Therefore,Total Capital Employed by Z = 525000+625000525000+625000
= Rs.12,00,000
Therefore,Opening Capital Ratio(OCR) of X,Y and Z should be
= 9,00,000:9,30,000:12,00,000
= 30 : 31 : 40
Distribution of Profits among the partners
X = 42000\times\dfrac{30}{101}42000×10130 = Rs.12475
Y = 42000\times\dfrac{31}{101}42000×10131 = Rs.12891
Z = 42000\times\dfrac{40}{101}42000×10140 = Rs.16634
Answer:
Calculation of Total capital employed by X
1.4.15 Capital Employed = [Rs.90,000\times6 months][Rs.90,000×6months]
= Rs.5,40,000
30.9.15 Capital Employed = [Rs.60,000(90,000-30,000)\times 6 months][Rs.60,000(90,000−30,000)×6months]
= Rs.3,60,000
Therefore,Total Capital Employed by X = Rs.5,40,000+Rs.3,60,000Rs.5,40,000+Rs.3,60,000
= Rs.9,00,000
Calculation of Total Capital employed by Y
1.4.15 Capital Employed = [Rs.75000\times4 months][Rs.75000×4months]
= Rs.3,00,000
31.7.15 Capital Employed = [Rs.90,000(75000+15000)\times 5][Rs.90,000(75000+15000)×5]
= Rs.4,50,000
31.12.15 Capital Employed = [Rs.60,000(90,000-30,000)\times 3][Rs.60,000(90,000−30,000)×3]
= Rs.1,80,000
Therefore,Total Capital Employed by Y = [3,00,000+4,50,000+1,80,000][3,00,000+4,50,000+1,80,000]
= Rs.9,30,000.
Calculation of Total Capital Employed by Z
1.4.15 Capital Employed = 75000\times 775000×7 = Rs.525000
31.10.15 Capital Employed = 135000\times5135000×5 = Rs.675000
Therefore,Total Capital Employed by Z = 525000+625000525000+625000
= Rs.12,00,000
Therefore,Opening Capital Ratio(OCR) of X,Y and Z should be
= 9,00,000:9,30,000:12,00,000
= 30 : 31 : 40
Distribution of Profits among the partners
X = 42000\times\dfrac{30}{101}42000×
101
30
= Rs.12475
Y = 42000\times\dfrac{31}{101}42000×
101
31
= Rs.12891
Z = 42000\times\dfrac{40}{101}42000×
101
40
= Rs.16634
Explanation:
l hope it will be helpful