Bikram, Iqrar and Jiten entered into a partnership on 1st October, 2022 to share profits and losses in the ratio of 3:2:1. Bikram guaranteed that Jiten’s share of profit would not be less than ₹ 2,00,000 p.a.
Bikram, Iqrar, and Jiten entered into a partnership on 1st October 2022 to share profits and losses in the ratio of 3:2:1. Bikram guaranteed that Jiten’s share of profit would not be less than ₹ 2,00,000 p.a. The loss for the period ended 31st March 2023 was ₹ 1,50,000. Calculate the deficiency to be charged to Bikram.
Anurag Pathak Changed status to publish April 9, 2023
Jiten’s share of Loss = ₹ 1,50,000 * 1/6 = ₹ 25,000
Guaranteed amount of profit for half year = ₹ 2,00,000 * 1/2 = ₹ 1,00,000
Deficiency = Guaranteed amount – (- ₹ 25,000)
Deficiency = ₹ 1,00,000 – (- ₹ 25,000)
Deficiency = ₹ 1,00,000 + ₹ 25,000 = ₹ 1,25,000
Anurag Pathak Changed status to publish April 9, 2023
