Question

Q 7. A,B &C are Partners with Capitals of Rs 50,000,Rs 40,000 and Rs 30,000. A has also given a Loan of Rs20,000 to the Firm. Profit for the year was Rs 80,100 without giving interest on A’s Loan. The share of each Partner out of the Profit would be : (a) Rs 26,700 to each Partner. (b) Rs 33,366 to each Partner (c) A Rs 27,500, B Rs 26,300, C Rs 26,300 (d) A Rs 27,466, B Rs 26267, C Rs 26,267.

Answer 1

Answer:

Profit of firm = 80100

(-) interest on loan =. 1200

(20000*6/100)

Divisble profit = 7 89 00

Each oartner share = 78900/3=26300

Ashare = 26300+1200=27500

B and C share = 26300

Explanation:

As profit sharing ratio is not given we assume it equal

And if rate of interest is not given we take it 6%p.a.