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# A, B and C had capitals of Rs. 50,000; Rs. 40,000 and Rs. 30,000 respectively for carrying on business in partnership. The firm’s reported profit for the year was Rs. 80,000. As per provisions of the Indian Partnership Act, 1932, find out the share of each partner in the above amount after taking into account that no interest has been provided on an advance by A of Rs. 20,000, in addition to his capital contribution. a)Rs. 26,267 for Partner B and C & Rs. 27,466 for partner Ab)Rs. 26,667 each partnerc)Rs. 33,333 for A, Rs. 26,667 and Rs. 20,000 for Cd)Rs. 30,000 each partnerCorrect answer is 'A'. Can you explain this answer? Related Test: Test: Introduction To Partnership Accounts - 1

## CA Foundation Question

 Abhishek Choudhary May 24, 2018
Muskan kedia you're wrong Answer A right 6%of 20000=1200(profit=80000-1200 A interst on loan=78800÷3=26,267 B & C partner and A=26266+1200intrest on loan=27,466

 Muskan Kedia May 24, 2018
The answer is wrong. correct answer is (b)because net profit remaining after giving interest on loan to partner @6% on 20000 is 78800 And this is to equally be divided among partners..

 Ajay Kumar Oct 06, 2018
Can any body tell about maths important chapters for exam