Ratio problem

1. Calculate interest on capital for all partners. 2. Deduct interest on capital from the net profit. 3. Balance net profit must be shared among the partners. Where C has to get minimum Rs. 30,000 as profit.

Yoga Vishnu

CA Final

★ 11K+

08-Jul-21 16:48

A-16000 interest on capital B-10000 interest on capital C-8000 interest on capital interest charged on partner's capital @ 5 percent per anum given below- Capital of A -320000 B-200000 C-160000 Profit sharing ratio is 5:3:2 159000*5/10 159000*3/10 159000*2/10 A's Share of profit is 62500 B's Share of profit is 37500 C's Share of profit is 25000 Check in question it is given that a guaranteed c that he will be given profit 30000 every year in any condition. So, the profit in X's share is of 30000 but he gained 25000 ,remainig amount will be given by a to c in respect of his promise to c. A-62500- 5000-57500 C- 25000+5000-30000

Aditya Sharma

CA Foundation

★ 2K+

19-Jul-21 23:12