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A and B are partners . C is admitted with a guarantee profit of RS 10000 from A . New profit- sharing ratio is 3:2:1. Profit for the year 2019-2020 is RS 1,20,000 .C will get : (a) 10000 (b) 30000 (c) 20000 (d) none of these.

Answer»

and B are partners in a FIRM.C is admitted into the firm and is guaranteed a profit of Rs 10,000 by A.The new profit-sharing ratio is 3:2:1.The profit for the YEAR was Rs 1,20,000.To find: C's share in profit.Answer:Calculation of the profit distribution:Since they share their PROFITS and losses in the ratio 3:2:1, the profit will be DISTRIBUTED accordingly.For A:Profit share = Rs 1,20,000 × 3/6 = Rs 60,000For B:Profit share = Rs 1,20,000 × 2/6 = Rs 40,000For C:Profit share = Rs 1,20,000 × 1/6 = Rs 20,000There is no deficiency in C's profit as C gets more than his guaranteed profit, i.e., Rs 10,000.Therefore, C's share in profit is option (C) Rs 20,000.



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