Question

A, B and C are partners sharing profits in the ratio of 2 : 3 : 1. As per the partnership agreement, C is to get a minimum amount of ₹ 1,00,000 as her share of profits every year and any deficiency on this account is to be personally borne by B. The net profit for the year ended 31st March 2021 amounted to ₹ 3,00,000. What will be the amount of deficiency to be borne by B?

Options

• ₹ 50,000

• ₹ 30,000

• ₹ 20,000

• Nil

Answer 1

₹ 50,000

Explanation:

C's Share  = `₹ 3,00,000 xx 1/6` = ₹ 50,000

Deficient to be borne by B = ₹ 1,00,000 − ₹ 50,000 = ₹ 50,000