Mahi, Virat and Ishant are partners in Sports goods business sharing profits and losses in the ratio of 2 : 2 : 1. Ishant is guaranteed profit of ₹ 5,00,000 per annum by Mahi and Virat
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Solution:- Note:- As the partnership firm started on 1st June, there are only 10 drawings made by Firoz up to 31st March. Calculation of Average Months. Months remaining after 1st Drawings (after 30th June) + Months remaining after last drawing…
Solution:- Note:- As the partnership starts on 1st July. there are only 3 quarters up to 31st March. 1st July – 30th September 1st October – 31st December 1st January – 31st March The average Months Period would be Months…
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Solution:- Note:- As the partnership firm started from 1st July. there are only 9 withdrawals up to 31st March. Calculation of Average Months Months remaining after 1st Drawings (after 1st July) + Months remaining after last drawings (after 1st March)/2…
Solution:- Note:- As the partnership starts on 1st July. there are only 3 quarters up to 31st March. 1st July – 30th September 1st October – 31st December 1st January – 31st March The average Months Period would be Months…