Question

Ravi, Vani and Toni were equal partners in a firm. After the retirement of Vani, the capital balances of Ravi and Toni were ₹ 1,56,000 and ₹ 1,08,000 respectively. The new capital of the firm was determined at ₹ 2,80,000. It was decided that the capital will be in proportion of the profit sharing ratio of the remaining partners.

Toni will bring ______ for deficiency of his new capital. 

Options

• ₹ 40,000

• ₹ 12,000

• ₹ 20,000

• ₹ 32,000 

Answer 1

Toni will bring ₹ 32,000 for deficiency of his new capital. 

Explanation:

Toni will bring = `(2,80,000)/2 - 1,08,000`

= ₹ 32,000