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Question
A, B and C are sharing profits in the ratio of 4 : 3 : 2. A dies on 31st December, 2023. Accounts are closed on 31st March every year. Sales for the year ending 31st March, 2023 amounted to ₹ 4,00,000. Sales of ₹ 3,30,000 amounted between the period from 1st April, 2023 to 31st December, 2023. The profit for the year ending 31st March, 2023 amounted to ₹ 60,000.
Calculate the deceased partner's share in the current year's profits of the firm.
Numerical
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Solution
% of Profit on the basis of Sales = `(60,000)/(4,00,000)xx100`
= 15%
A’s share of Profit = `3,30,000xx15/100xx4/9`
= ₹ 22,000
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