Advertisement
Question 48 Chapter 6 of +2-Part-1
Advertisement
48. (Decreased Partner’s Share of Profit) A , B and C are partners sharing profits in the rate of 5 :3 :2. They have agreed that the deceased partner’s share of profit during the current year shall be based upon the last year’s profit. The profit earned during the year 2019 was Rs. 60,000. Calculate A’s share of profit if be dies in 2019 on: (a) January 31.
(b) February 28
(c) March 31
(d) April 301 Sept.
(e) May 31
The solution of Question 48 Chapter 6 of +2 Part-1: –
Calculation of A’s share of profit per month | |
Amount | |
Profit of the firm annually | 60,000 |
Monthly profit | 5,000 |
A’s share | 2,500 |
Now if date of death is | Then profits is |
(a) January 31 | 2,500 |
(b) February 28 | 5,000 |
(c) March 31 | 7,500 |
(d) April 30 | 10,000 |
(e) May 31 | 12,500 |
(f) Sept. 30 | 22,500 |
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
Leave a Reply