A, B and C are partners in a firm sharing profit/loss in the ratio of 2 : 2 : 1. On March 31, 2019, C died. Accounts are closed on Dec., 31 every year. The sales for the year 2018 was Rs6,00,000 and the profits were Rs 60,000. The sales for the period from Jan. 1, 2019 to March 31, 2019 were 2,00,000. The share of deceased partner till his death in the current year's profits on the basis of sales is : |
₹4000 ₹3000 ₹5000 ₹20000 |
₹4000 |
Profit on sales of year 2018 =60,000/6,00,000*100=10% |