X, Y, and Z are partners in a firm sharing profits and losses in the ratio of 6:4:1. X guaranteed a profit of ₹ 15,000 to Z
X, Y, and Z are partners in a firm sharing profits and losses in the ratio of 6:4:1. X guaranteed a profit of ₹ 15,000 to Z. The net profit for the year ending 31st March 2019 was ₹ 99,000. X’s Share in the profit of the firm will be
a) ₹ 30,000
b) ₹ 15,000
c) ₹ 48,000
d) ₹ 45,000
Anurag Pathak Changed status to publish April 1, 2024
Ans – c)
Explanation:-
Z’s Share in Profit = 99000 * 1/11 = ₹ 9,000
Deficiency of Z borne by X = 15000 – 9000 = ₹ 6,000
X’s Share in profit = 99000 * 6/11 = ₹ 54,000
X’s Share in Profit after bearing Deficiency of Z = 54000 – 6000 = ₹48,000
Anurag Pathak Changed status to publish April 4, 2023
