Class 12 Exam > Class 12 Questions > Moin and Azam are partners in a firm with cap...
Start Learning for Free
Moin and Azam are partners in a firm with capital ₹ 20,000 and ₹ 40,000 respectively. Profit for FY 21 are ₹ 60,000 . Who will get how much share?
- a)Moin ₹ 20,000, Azam ₹30,000
- b)Moin ₹20,000, Azam ₹40,000
- c)Moin ₹30,000, Azam ₹40,000
- d)None of these
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Moin and Azam are partners in a firm with capital 20,000 and 40,000 ...
Profit Sharing in a Partnership Firm
Introduction:
In a partnership firm, the distribution of profits among the partners is determined by their agreed profit sharing ratio. This ratio is usually based on the partners' capital contributions, but it can also be determined by mutual agreement.
Given Information:
- Capital of Moin: $20,000
- Capital of Azam: $40,000
- Profit for FY 21: $60,000
Calculation of Profit Sharing:
To calculate the profit sharing, we need to determine the profit sharing ratio of Moin and Azam based on their capital contributions.
Step 1: Calculate the total capital of the firm:
Total Capital = Capital of Moin + Capital of Azam
Total Capital = $20,000 + $40,000 = $60,000
Step 2: Calculate the profit sharing ratio of Moin and Azam:
Moin's Share = (Capital of Moin / Total Capital) * Total Profit
Moin's Share = ($20,000 / $60,000) * $60,000 = $20,000
Azam's Share = (Capital of Azam / Total Capital) * Total Profit
Azam's Share = ($40,000 / $60,000) * $60,000 = $40,000
Answer:
According to the calculations, Moin will receive $20,000 as his share of the profit, and Azam will receive $40,000 as his share of the profit. Therefore, the correct answer is option 'D' - None of these.
Explanation:
The options provided in the question do not match the actual calculations. Option 'A' suggests that Moin will receive $20,000 and Azam will receive $30,000, which is incorrect. Option 'B' suggests that Moin will receive $20,000 and Azam will receive $40,000, which is also incorrect. Option 'C' suggests that Moin will receive $30,000 and Azam will receive $40,000, which is again incorrect.
Hence, the correct answer is option 'D' - None of these, as none of the given options match the actual profit sharing ratio calculated based on the capital contributions of Moin and Azam.
Introduction:
In a partnership firm, the distribution of profits among the partners is determined by their agreed profit sharing ratio. This ratio is usually based on the partners' capital contributions, but it can also be determined by mutual agreement.
Given Information:
- Capital of Moin: $20,000
- Capital of Azam: $40,000
- Profit for FY 21: $60,000
Calculation of Profit Sharing:
To calculate the profit sharing, we need to determine the profit sharing ratio of Moin and Azam based on their capital contributions.
Step 1: Calculate the total capital of the firm:
Total Capital = Capital of Moin + Capital of Azam
Total Capital = $20,000 + $40,000 = $60,000
Step 2: Calculate the profit sharing ratio of Moin and Azam:
Moin's Share = (Capital of Moin / Total Capital) * Total Profit
Moin's Share = ($20,000 / $60,000) * $60,000 = $20,000
Azam's Share = (Capital of Azam / Total Capital) * Total Profit
Azam's Share = ($40,000 / $60,000) * $60,000 = $40,000
Answer:
According to the calculations, Moin will receive $20,000 as his share of the profit, and Azam will receive $40,000 as his share of the profit. Therefore, the correct answer is option 'D' - None of these.
Explanation:
The options provided in the question do not match the actual calculations. Option 'A' suggests that Moin will receive $20,000 and Azam will receive $30,000, which is incorrect. Option 'B' suggests that Moin will receive $20,000 and Azam will receive $40,000, which is also incorrect. Option 'C' suggests that Moin will receive $30,000 and Azam will receive $40,000, which is again incorrect.
Hence, the correct answer is option 'D' - None of these, as none of the given options match the actual profit sharing ratio calculated based on the capital contributions of Moin and Azam.
Free Test
FREE
| Start Free Test |
Community Answer
Moin and Azam are partners in a firm with capital 20,000 and 40,000 ...
Profits will be divided equally i.e. ₹ 30,000 each.
|
Explore Courses for Class 12 exam
|
|
Similar Class 12 Doubts
Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer?
Question Description
Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? 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 Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer?.
Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? 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 Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12.
Download more important topics, notes, lectures and mock test series for Class 12 Exam by signing up for free.
Here you can find the meaning of Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Moin and Azam are partners in a firm with capital 20,000 and 40,000 respectively. Profit for FY 21 are 60,000 . Who will get how much share?a)Moin 20,000, Azam 30,000b)Moin 20,000, Azam 40,000c)Moin 30,000, Azam 40,000d)None of theseCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Class 12 tests.
|
|
Explore Courses for Class 12 exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup