If X share of profit was to be calculated on the basis of the Average Profit of the last three years, which were ₹1,36,000 for 2018-19, ₹1,54,000 for 2019-20, and ₹1,00,000 for 2020-21. X share of profit for the period from April 01, 2020 to June 30, 2020 shall be calculated on the basis of Average Profit. The profit-sharing ratio is 4: 5: 1 between X, Y, and Z. His share of the profit will be: |
₹26,000 ₹13,000 ₹10,000 ₹12,000 |
₹13,000 |
The correct answer is option 2- ₹13,000. Average profits = (1,36,000 + 1,54,000 + 1,00,000) /3 X share = 1,30,000 X 4/10 1 April to 30 june = 52,000 X 3/12 |