Class 10 Exam > Class 10 Questions > A.B &C are partners in a firm, C dies on 31 ...
Start Learning for Free
A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the business
during the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.
The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.
Calcluate the profit & Loss suspense amount trasnfered to deceased partner.?
during the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.
The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.
Calcluate the profit & Loss suspense amount trasnfered to deceased partner.?
Most Upvoted Answer
A.B &C are partners in a firm, C dies on 31 july 2019. The sales of t...
**Calculation of Profit & Loss Suspense Amount Transferred to Deceased Partner**
**Sales and Profit for the Year 2018-2019**
- Total Sales for the year 2018-2019 = Rs. 8,00,000
- Total Profit for the year 2018-2019 = Rs. 1,00,000
**Sales up to the Date of Death**
- Sales up to 31st July 2019 = Rs. 1,50,000
**Calculation of Profit until Date of Death**
- Profit until 31st July 2019 can be calculated as a ratio of sales until the date of death to total sales for the year.
- Profit until 31st July 2019 = (Profit for the year * Sales up to 31st July 2019) / Total Sales for the year
- Profit until 31st July 2019 = (1,00,000 * 1,50,000) / 8,00,000
- Profit until 31st July 2019 = Rs. 18,750
**Calculation of Profit & Loss Suspense Amount**
- Loss until the date of death = Total Profit for the year - Profit until 31st July 2019
- Loss until the date of death = 1,00,000 - 18,750
- Loss until the date of death = Rs. 81,250
**Transfer to Deceased Partner**
- The Profit & Loss Suspense Amount of Rs. 81,250 will be transferred to the deceased partner's capital account or settled as per the partnership agreement.
**Sales and Profit for the Year 2018-2019**
- Total Sales for the year 2018-2019 = Rs. 8,00,000
- Total Profit for the year 2018-2019 = Rs. 1,00,000
**Sales up to the Date of Death**
- Sales up to 31st July 2019 = Rs. 1,50,000
**Calculation of Profit until Date of Death**
- Profit until 31st July 2019 can be calculated as a ratio of sales until the date of death to total sales for the year.
- Profit until 31st July 2019 = (Profit for the year * Sales up to 31st July 2019) / Total Sales for the year
- Profit until 31st July 2019 = (1,00,000 * 1,50,000) / 8,00,000
- Profit until 31st July 2019 = Rs. 18,750
**Calculation of Profit & Loss Suspense Amount**
- Loss until the date of death = Total Profit for the year - Profit until 31st July 2019
- Loss until the date of death = 1,00,000 - 18,750
- Loss until the date of death = Rs. 81,250
**Transfer to Deceased Partner**
- The Profit & Loss Suspense Amount of Rs. 81,250 will be transferred to the deceased partner's capital account or settled as per the partnership agreement.
Attention Class 10 Students!
To make sure you are not studying endlessly, EduRev has designed Class 10 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 10.
|
Explore Courses for Class 10 exam
|
|
Top Courses for Class 10View all
A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.?
Question Description
A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.?.
A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.?.
Solutions for A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? in English & in Hindi are available as part of our courses for Class 10.
Download more important topics, notes, lectures and mock test series for Class 10 Exam by signing up for free.
Here you can find the meaning of A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? defined & explained in the simplest way possible. Besides giving the explanation of
A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.?, a detailed solution for A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? has been provided alongside types of A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? theory, EduRev gives you an
ample number of questions to practice A.B &C are partners in a firm, C dies on 31 july 2019. The sales of the businessduring the year 2018- 2019 was Rs. 8,00,000 and the profit amounted to Rs. 1,00,000.The sales upto the date of death ie 31st July 2019 was Rs. 1,50,000.Calcluate the profit & Loss suspense amount trasnfered to deceased partner.? tests, examples and also practice Class 10 tests.
|
|
Explore Courses for Class 10 exam
|
|
Suggested Free Tests
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!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup