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C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:
  • a)
    Rs. 27,000 and Rs. 16,000 for A and B respectively.
  • b)
    Rs. 27,000 and Rs. 18,000 for A and B respectively.
  • c)
    Rs. 32,000 and Rs. 21,000 for A and B respectively.
  • d)
    Rs. 31,000 and Rs. 26,000 for A and B respectively.
Correct answer is option 'B'. Can you explain this answer?
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C was admitted in a firm with 1/4th share of the profits of the firm. ...
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C was admitted in a firm with 1/4th share of the profits of the firm. ...
Given information:
- C has 1/4th share in profits of the firm
- C contributes Rs. 15,000 as his capital
- A and B are partners with profit sharing ratio of 3:2

To find:
- Capital of A and B in the ratio of 3:2, taking C's capital as base

Solution:
Let the total profit be x.

As C has 1/4th share in profits, his share in profit = (1/4)x
Therefore, the remaining profit for A and B = x - (1/4)x = (3/4)x

Let the required capital of A be y. Then, the required capital of B will be (2/3)y (as they have a profit sharing ratio of 3:2).

Now, using the concept of the capital-profit ratio:
- Capital of C / Capital of A = Share of C in profit / Share of A in profit
- (15000 / y) = ((1/4)x / ((3/4)x * (3/5))) [As A's share in profit is 3/5 of remaining profit, and C's share is 1/4th of total profit]
- (15000 / y) = 1/4 * 5/9
- y = Rs. 27,000

Therefore, B's capital = (2/3)y = (2/3)*27000 = Rs. 18,000

Hence, the required capital of A and B in the ratio of 3:2, taking C's capital as base is Rs. 27,000 and Rs. 18,000 respectively.
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Community Answer
C was admitted in a firm with 1/4th share of the profits of the firm. ...
C contributes 15000 with 1/4th share of profits

15000 * reciprocal of his share
15000 * 4=60000
1-1/4=3/4
A&B profit sharing ratio is 3:2
A- 3:2 * 3/5=9/20. 9/20:6/20:1/4*5/5
B- 3/4 * 2/5=6/20. =5/20
9:6:5
A- 60000 * 9/20=27000
B- 60000 * 6/20=18000
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C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer?
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C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer?.
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Here you can find the meaning of C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice C was admitted in a firm with 1/4th share of the profits of the firm. C contributes Rs. 15,000 as his capital, A and B are other partners with the profit sharing ratio as 3:2. Find the required capital of A and B, if capital should be in profit sharing ratio taking C’s as base capital:a)Rs. 27,000 and Rs. 16,000 for A and B respectively.b)Rs. 27,000 and Rs. 18,000 for A and B respectively.c)Rs. 32,000 and Rs. 21,000 for A and B respectively.d)Rs. 31,000 and Rs. 26,000 for A and B respectively.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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