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A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.?
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A, b, c started partnership business on 1st January 2021 with a capita...
Apportionment of Profit in Partnership Business
Given Information:
- A, B, C started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively.
- On 1st April they decided to have their capital as rs 80000 each.
- Profit for the year 2021 was rs 48000.
Calculation of Profit Sharing Ratio:
- Let's calculate the profit sharing ratio of A, B, and C based on their initial investment.
- Ratio of investment of A, B, and C = 100000 : 80000 : 60000 = 5 : 4 : 3
- Sum of ratio = 5 + 4 + 3 = 12
- Profit sharing ratio of A, B, and C = (5/12) : (4/12) : (3/12) = 5 : 4 : 3
Calculation of New Capital:
- On 1st April, each partner's capital was rs 80000.
- The total capital of the firm on 1st April = 80000 + 80000 + 80000 = 240000
- Let's calculate the amount of change in the capital of each partner.
- Change in capital of A = 80000 - 100000 = -20000
- Change in capital of B = 80000 - 80000 = 0
- Change in capital of C = 80000 - 60000 = 20000
- New capital of A = 100000 - 20000 = 80000
- New capital of B = 80000
- New capital of C = 60000 + 20000 = 80000
Apportionment of Profit:
- Let's calculate the share of profit of each partner based on their new capital.
- Share of profit of A = 48000 x (80000/240000) = 16000
- Share of profit of B = 48000 x (80000/240000) = 16000
- Share of profit of C = 48000 x (80000/240000) = 16000
Conclusion:
- Thus, the profit of the firm will be apportioned among the partners in the ratio of 5 : 4 : 3 initially and then based on their new capital after they decided to change the capital on 1st April.
- Each partner's share of profit will be A: 16000, B: 16000, and C: 16000.
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A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.?
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A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.?.
A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.?.
Solutions for A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.? in English & in Hindi are available as part of our courses for Class 12.
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A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.?, a detailed solution for A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.? has been provided alongside types of A, b, c started partnership business on 1st January 2021 with a capital if rs 100000, 80000 and 60000 respectively. On 1st april they decided to have their capital as rs 80000 each. Profit for the year 2021 was rs 48000. You are required to apportion the profit of the firm in their capital ratio.? theory, EduRev gives you an
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