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X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will be
- a)Other partners will pay Z the minimum profit and will suffer loss equally
- b)Other partners will pay Z the minimum profit and will suffer loss in capital ratio
- c)X & Y will take Rs. 500 each and Z will take Rs. 5000
- d)Rs. 2,000 to each of the partners
Correct answer is option 'D'. Can you explain this answer?
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X, Y and Z are partners in a firm. At the time of division of profit f...
's capital, salary and commission were as follows:
X: $50,000
Y: $70,000
Z: $80,000
X claimed that he had invested more capital than Y and Z and therefore should get a larger share of the profit. Y and Z, on the other hand, argued that X had not contributed as much to the firm's success as they had and therefore should not receive a larger share of the profit.
After much discussion, the partners agreed to divide the profit in the following manner:
X: 20% of the profit
Y: 35% of the profit
Z: 45% of the profit
This division took into account X's claim for a larger share of the profit, while also recognizing the contributions of Y and Z to the firm's success.
After interest on partner's capital, salary and commission were deducted, the net profit for the year was $100,000. The partners' capital accounts were as follows:
X: $150,000
Y: $100,000
Z: $250,000
Using the agreed upon division of profit, the partners would receive the following amounts:
X: $20,000 (20% of $100,000)
Y: $35,000 (35% of $100,000)
Z: $45,000 (45% of $100,000)
Their capital accounts would then be adjusted as follows:
X: $170,000 ($150,000 + $20,000)
Y: $135,000 ($100,000 + $35,000)
Z: $295,000 ($250,000 + $45,000)
This division of profit and adjustment to the capital accounts would resolve the dispute between the partners and ensure that each partner received a fair share of the firm's profits based on their contributions.
X: $50,000
Y: $70,000
Z: $80,000
X claimed that he had invested more capital than Y and Z and therefore should get a larger share of the profit. Y and Z, on the other hand, argued that X had not contributed as much to the firm's success as they had and therefore should not receive a larger share of the profit.
After much discussion, the partners agreed to divide the profit in the following manner:
X: 20% of the profit
Y: 35% of the profit
Z: 45% of the profit
This division took into account X's claim for a larger share of the profit, while also recognizing the contributions of Y and Z to the firm's success.
After interest on partner's capital, salary and commission were deducted, the net profit for the year was $100,000. The partners' capital accounts were as follows:
X: $150,000
Y: $100,000
Z: $250,000
Using the agreed upon division of profit, the partners would receive the following amounts:
X: $20,000 (20% of $100,000)
Y: $35,000 (35% of $100,000)
Z: $45,000 (45% of $100,000)
Their capital accounts would then be adjusted as follows:
X: $170,000 ($150,000 + $20,000)
Y: $135,000 ($100,000 + $35,000)
Z: $295,000 ($250,000 + $45,000)
This division of profit and adjustment to the capital accounts would resolve the dispute between the partners and ensure that each partner received a fair share of the firm's profits based on their contributions.
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X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer?
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X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer?.
X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer?.
Solutions for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s capital was Rs. 6,000 and Z demanded minimum profit of Rs. 5,000 as his financial position was not good. However, there was no written agreement. Profit to be distributed to X, Y and Z will bea)Other partners will pay Z the minimum profit and will suffer loss equallyb)Other partners will pay Z the minimum profit and will suffer loss in capital ratioc)X & Y will take Rs. 500 each and Z will take Rs. 5000d)Rs. 2,000 to each of the partnersCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Commerce tests.
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