Question

A, B, and C are partners. A’s capital is ₹ 3,00,000, and B’s capital is ₹ 1,00,000. C has not invested any amount as capital, but he alone manages the whole business. C wants ₹ 30,000 p.a. as salary, though the deed is silent. The firm earned a profit of ₹ 1,50,000. How much will each partner receive as an appropriation of profits?

विकल्प

• A – ₹ 60,000; B – ₹ 60,000; C – ₹ 30,000

• A – ₹ 90,000; B – ₹ 30,000; C – ₹ 30,000

• A – ₹ 40,000; B – ₹ 40,000; and C – ₹ 70,000

• A – ₹ 50,000; B – ₹ 50,000; and C – ₹ 50,000

Answer 1

A – ₹ 50,000; B – ₹ 50,000; and C – ₹ 50,000

Explanation:

Since the partnership deed is silent regarding the payment of salary to C and the profit-sharing ratio, as per the provisions of the Indian Partnership Act, 1932, no partner is entitled to salary, and profits are to be shared equally among the partners.

Total profit = ₹ 1,50,000

Number of partners = 3

Equal share for each partner = `(1,50,000)/3`

= ₹ 50,000