Rohit, Raman and Raina are partners in a firm. Their capital accounts on 1st April, 2019, stood at `2,00,000, `1,20,000 and `1,60,000 respectively. ... The net profit of `72,000 for the year ended 31st March 2020, was divided equally amongst the partners without providing for the terms of the deed
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ROHIT RAMAN RAINA
capital 2,00,000 1,20,000 1,60,000
share 1/3 : 1/3 : 1/3
PROFIT = 72,000
ROHIT PROFITS = 72,000 X 1/3 = 24,000
RAMAN = 72,000X 1/3 = 24,000
RAINA PROFIT = 72,000 X 1/3 = 24,000
EXPLAIN : THE share are equal in partners the ratio is 1 when it not given the share ratio when it has to use the orginal share ratio 1 .
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