Question

X, Y and Z were partners sharing profits in the ratio of 2 : 2 : 1. Y died on 30th June, 2025, and the profit for the accounting year ended 31st March, 2025 was 3,60,000. If profit share of deceased partner is to be calculated based on previous year’s profit, amount of profit credited to Y’s Capital Account will be ______.

विकल्प

• ₹ 72,000

• ₹ 36,000

• ₹ 1,44,000

• ₹ 2,80,000

Answer 1

X, Y and Z were partners sharing profits in the ratio of 2 : 2 : 1. Y died on 30th June, 2025, and the profit for the accounting year ended 31st March, 2025 was 3,60,000. If profit share of deceased partner is to be calculated based on previous year’s profit, amount of profit credited to Y’s Capital Account will be ₹ 36,000.

Explanation:

Previous year’s (year ended 31 Mar 2025) profit = ₹ 3,60,000.

Y’s profit-sharing ratio = `2/(2 + 2 + 1)`

= 2/5

Annual share = `2/5 × 3,60,000`

= ₹ 1,44,000

Y died on 30 June 2025, i.e. 3 months into the new accounting year (1 Apr–30 Jun).

Pro rata share = `1,44,000 × (3/12)`

= ₹ 36,000