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Accountancy
What will be the share of profit for only P he died on 30/sep/2020 books will be closed on 31st of Dec every year
Answers (10)
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Thread Starter
Dhakshana DhakshanaThere is no such agreement in the deed
It is there in the problem that(4)(5) we have to calculate everything up to 31 december though he is dead.
Niranjan Bhat
He wil be awarded the profit as per his share in profit sharing ratio multiplied by 9/12. because he was in the firm till that date only.
Yes that's what I thought but in answer they just stopped after multiplying his share but not 9/12 why?
Thread Starter
Dhakshana DhakshanaYes that's what I thought but in answer they just stopped after multiplying his share but not 9/12 why?
we can only provide the profit up to the date of death.
Niranjan Bhat
we can only provide the profit up to the date of death.
See here 9470*1/2 they did it is for one whole year what about 9/12 cut he died on sep
Niranjan Bhat
we can only provide the profit up to the date of death.
I know that in answer key they didn't do that why? I'm asking
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