Question

Rajiv Suresh and Gagan are partners sharing profits in the ratio of 2:2:1,according to the partnership agreement ,Gagan is to get a minimum amount of 40000 as his share of profit every year and and any deficiency on this account is to be personally Borne by Rajiv .the net profit of the year ended 31st March 2021 amounted to 180000 .calculate the amount of deficiency to be borne by Rajiv.​

Answer 1

Answer:

I hope this would be helpul :-)

Answer 2

Given:

Profit and Loss sharing ratio = 2:2:1 for Rajiv, Surest and Gagan

Minimum fixed amount of Profit for Gagan = Rs. 40000 borne by Rajiv

Net Profit for 31st March = 180000

To Find:

Deficiency borne by Rajiv

Solution:

Ratio = 2:2:1

Net Profit = 180000

According to the ratio share of

Rajiv =

$\frac{2}{5} \times 180000$

= 72000

Suresh

$\frac{2}{5 } \times 180000$

= 72000

Gagan

$\frac{1}{5} \times 180000$

= 36000

Since Gagan is supposed to receive a Minimum of 40000 a share of Rs. (40000-36000) must be compensated by Rajiv

Deficiency borne by Rajiv

= 40000 - 36000

= Rs. 4000

Therefore, Rajiv has to borne a Deficiency of Rs. 4000