Anand Teertha.G (CA) (60 Points)
11 June 2011Please give the answer for this Partnership a/c Problem....
A and B are partners sharing profits and losses in the ratio of 3:2 (A's capital is30000 and B's capital is15000). They admitted C agreed to give 1/5th share of profits to him. General Reserve in the balance sheet is at9000. How much C should bring in towards his capital?
mounika
(semi qualified chartered accountant)
(981 Points)
Replied 11 June 2011
new profit sharing ratio A:B:C= 12:8:5
A cap a/c bal= 35400[30000+5400 reserves bal]
Bcap a/c bal=18600[15000+3600 reserves bal]
20/25[12/25+8/25]=54000 then 5/25= 13500
so c's cap=13500
sry if wrong
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 11 June 2011
YES C'S CAPITAL WILL BE 13500RS.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 11 June 2011
BUT I HAVE DONE THE CALCULATION IN OTHER WAY
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 11 June 2011
BUT I HAVE DONE THE CALCULATION IN OTHER WAY
mridul savio Pinto
(articled trainee )
(1477 Points)
Replied 11 June 2011
simple way : 54000*5/4 =67500*1/5=13500
agree with mounika & future ca
shakuntala chhangani
(FCA Course co-ordinator WIRC coaching centre)
(2525 Points)
Replied 14 June 2011
Hi friends, only 5 days are left for ur exams. so concentrate. the answer is
Share of profit of A & B Sahre of profit of C
4/5 1/5
Capital 54,000 ?
Just cross multiply and u will get the answer as 54,000 x 1
4
= 13,500
Regards, CA Shakuntala Chhangani
CAclubindia
