A,B,C are sharing profits in the ratio of 4:3:2. A dies on 31st december 2011, accounts are closed on 31st march every year. Sales for the year ending 31st march 2011 amounted to RS 4,00,000. Sales of Rs 3,30,000 amounted between periods from 1st april to 31st december 2011. the profit for the year ending 31st march, 2011 amounted to RS 60,000. Calculate the deceased partners share in the current year's profits of the firm.

Dear Student


 
Sales for year ending 31-03-11   400,000
Profit for the year ending 31-03-11   60,000
Net profit ratio (60,000 / 4,00,000 ) x 100 15%
Profit till Death    
Sales between 01-04-11 to 31-12-11   330,000
Profit @ 15% on sales (Based on previous years ratio) (3,30,000 x 15%) 49,500
A's Share (49,500 x 4/9) 22,000


Therefore A's share is Rs 22,000/- in current years profit


Regards

  • 6
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