Practicing Success
Calculate the share of profit of the deceased partner if he retires after 3 months of the current accounting year from the partnership firm. Last year's profit is ₹2,40,000 and the partner's share is 1/3rd in the firm. |
₹60,000 ₹30,000 ₹80,000 ₹20,000 |
₹20,000 |
The correct answer is option 4- ₹20,000. Last year profit = ₹2,40,000 Deceased partner share = 60,000 x 1/3 |