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R, J and D are the partners sharing profits in the ratio 7:5:4. D died on 30th June 2006 and profits for the accounting year 2005-2006 were Rs. 24,000. How much share in profits for the period 1st April 2006 to 30th June 2006 will be credited to D’s Account.
  • a)
    Rs. 6,000.
  • b)
    Rs. 1,500.
  • c)
    Nil.
  • d)
    Rs. 2,000.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
R, J and D are the partners sharing profits in the ratio 7:5:4. D died...
Solution:
Given,
Profit sharing ratio of R, J and D = 7:5:4
Profit for the accounting year 2005-2006 = Rs. 24,000
Profit earned from 1st April 2006 to 30th June 2006 = ?
Since D died on 30th June 2006, his share in the profit earned during this period will be credited to his account.
To calculate D's share in profits for the period 1st April 2006 to 30th June 2006, we need to find out the profit earned during this period.

Calculation:
Let the profit earned from 1st April 2006 to 30th June 2006 be x.
Total profit for the year = Profit for the period 1st April 2006 to 30th June 2006 + Profit for the period 1st July 2005 to 31st March 2006
24000 = x + (x/3) * 9
24000 = x + 3x
24000 = 4x
x = 6000
Therefore, profit earned from 1st April 2006 to 30th June 2006 = Rs. 6000

D's share in the profit earned during this period will be calculated as follows:
D's share = (Profit earned from 1st April 2006 to 30th June 2006 * D's profit sharing ratio)/(Total profit sharing ratio)
D's share = (6000 * 4)/(7+5+4)
D's share = 24000/16
D's share = Rs. 1500

Therefore, option (b) Rs. 1500 is the correct answer.
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Community Answer
R, J and D are the partners sharing profits in the ratio 7:5:4. D died...
D's share of profits = 24000* 4/16 (his share)* 3/12 ( for 3 months) = 1500
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R, J and D are the partners sharing profits in the ratio 7:5:4. D died on 30th June 2006 and profits for the accounting year 2005-2006 were Rs. 24,000. How much share in profits for the period 1st April 2006 to 30th June 2006 will be credited to Ds Account.a)Rs. 6,000.b)Rs. 1,500.c)Nil.d)Rs. 2,000.Correct answer is option 'B'. Can you explain this answer?
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R, J and D are the partners sharing profits in the ratio 7:5:4. D died on 30th June 2006 and profits for the accounting year 2005-2006 were Rs. 24,000. How much share in profits for the period 1st April 2006 to 30th June 2006 will be credited to Ds Account.a)Rs. 6,000.b)Rs. 1,500.c)Nil.d)Rs. 2,000.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about R, J and D are the partners sharing profits in the ratio 7:5:4. D died on 30th June 2006 and profits for the accounting year 2005-2006 were Rs. 24,000. How much share in profits for the period 1st April 2006 to 30th June 2006 will be credited to Ds Account.a)Rs. 6,000.b)Rs. 1,500.c)Nil.d)Rs. 2,000.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for R, J and D are the partners sharing profits in the ratio 7:5:4. D died on 30th June 2006 and profits for the accounting year 2005-2006 were Rs. 24,000. How much share in profits for the period 1st April 2006 to 30th June 2006 will be credited to Ds Account.a)Rs. 6,000.b)Rs. 1,500.c)Nil.d)Rs. 2,000.Correct answer is option 'B'. Can you explain this answer?.
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