Q. 43. A, B, C and D are partners sharing profits in 2:2:1:1. They distributed
profit for the year ending 31st March 2020, 9,00,000 without providing for the
owing:
(1) Salary to A @ 15,000 per month.
(ii) Salary to B and D @ 30,000 per quarter to each partner.
calculate
please answer asap
thank you!
Answers
Answer:
A = 1,20,000
B = 1,80,000
C = 1,50,000
D = 30,000
Explanation:
Given,
Profit radio : 2:2:1:1
no. of partners: 4
total profit : 9,00,000
Now,
We will calculate the share in profit for each partner.
As per give radio total no of a share will be 2+2+1+1 = 6
Profit share = (Total profit/total no of share)*share
partner A will get (900000/6) *2 profit i.e. 3,00,000
likewise,
partner B will get (900000/6)*2 i.e. 3,00,000
partner C will get (900000/6)*1 i.e. 1,50,000
partner B will get (900000/6)*2 i.e. 1,50,000
Now, We will divide the salary for all partner as per given,
for A = 15,000 * 12 = 1,80,000 i.e. profit - salary = 3,00,000 - 1,80,000 = 1,20,000
likewise for others,
for B = 30,000 * 4 = 1,20,000 i.e. profit - salary = 3,00,000 - 1,20,000 = 1,80,000
For C = 1,50,000
For D = 30,000 * 4 = 1,20,000 i.e. profit- salary = 1,50,000 - 1,20,000 = 30,000
let gooioooooo
hope it's helps