1.

X, Y, and Z are partners in a firm. At the time of division of profit for the year, there was dispute between the partners. Profit before interest on partner’s capital was ₹6,00,000 and Z demanded minimum profit of ₹5,00,000 as his financial position was not good. However, there was no written agreement on this point. Calculate the distributable profit: (1) (A) Other partners will pay Z the minimum profit and will share the loss equally. (B) Other partners will pay Z the minimum profit and will share the loss in capital ratio. (C) X and Y will take ₹50,000 each and Z will take ₹5,00,000. (D) ₹2,00,000 to each of the partners.

Answer» TION:ans is D because there was not WRITTEN AGREEMENT so PROFIT will be share EQUALLY


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