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A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000?
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A, B and C are partners in firm sharing profit/loss in the ratio of 2:...
Given information:
- Sales for the year 2018 = ₹600000, Profit for the year 2018 = ₹60000
- Ratio of profit sharing = 2:2:1 among A, B and C
- C died on March 31, 2019
- Accounts are closed on Dec 31 every year
- Sales for Jan 1, 2019 to Mar 31, 2019 = ₹200000

Calculation of profit for the year 2018:
- As per the given ratio of profit sharing, A and B share 2/3rd of the profit and C shares 1/3rd of the profit
- A and B share 2/3rd of ₹60000 = ₹40000
- C's share in the profit for the year 2018 = 1/3rd of ₹60000 = ₹20000

Calculation of profit for the period from Jan 1, 2019 to Mar 31, 2019:
- Sales for the period = ₹200000
- Assuming the profit ratio remains the same, A and B will share 2/3rd of the profit and C's legal heirs will share 1/3rd of the profit
- A and B's share in the profit for the period = 2/3rd of (₹200000 * 3/12) = ₹10000
- C's legal heirs' share in the profit for the period = 1/3rd of (₹200000 * 3/12) = ₹5000

Calculation of C's share in the current year's profit on the basis of sales:
- C's share in the profit for the year 2018 = ₹20000
- C's share in the profit for the period from Jan 1, 2019 to Mar 31, 2019 = ₹5000
- Total share of C in the current year's profit = ₹20000 + ₹5000 = ₹25000
- Total sales for the year 2019 = ₹200000 (Jan-Mar) + ₹600000 (Apr-Dec) = ₹800000
- C's share in the current year's profit on the basis of sales = (₹25000 / ₹800000) * ₹200000 = ₹6250

Therefore, the correct answer is not given in the options provided. The share of deceased partner C in the current year's profit on the basis of sales is ₹6250.
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A, B and C are partners in firm sharing profit/loss in the ratio of 2:...
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A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000?
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A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000?.
Solutions for A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000? defined & explained in the simplest way possible. Besides giving the explanation of A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000?, a detailed solution for A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000? has been provided alongside types of A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000? theory, EduRev gives you an ample number of questions to practice A, B and C are partners in firm sharing profit/loss in the ratio of 2:2:1. On March31, 3019,C died. Accounts are closed on Dec, 31 every year. The sales for the year 2018 was ₹600000 and the profit were ₹60000. The sales for the period from Jan. 1,2019 to March31, 2019 were ₹200000. The share of deceased partner in the current year's profit on the basis of sales is: (A) ₹20000 (B) ₹8000 (C) ₹3000 (D) ₹4000? tests, examples and also practice Commerce tests.
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