Question

Aditi, Sukriti and Niti were partners sharing profits in the ratio of 2 : 2 : 1. Sukriti died on 30^th June 2023. Net profit for the year ended 31^st March, 2023 was ₹ 4,50,000. If the deceased partner's share of profit is to be calculated on the basis of the previous year's profit, the amount of profit credited to Sukriti's Capital Account will be ______.

Options

• ₹ 90,000

• ₹ 45,000

• ₹ 1,80,000

• ₹ 1,12,500

Answer 1

Aditi, Sukriti and Niti were partners sharing profits in the ratio of 2 : 2 : 1. Sukriti died on 30^th June 2023. Net profit for the year ended 31^st March, 2023 was ₹ 4,50,000. If the deceased partner's share of profit is to be calculated on the basis of the previous year's profit, the amount of profit credited to Sukriti's Capital Account will be ₹ 45,000.

Explanation:

Firm's profit from 1 April, 2023

= `4,50,000 xx 3/12`

= ₹ 1,12,500

Sukriti's Share = `1,12,500 xx 2/5`

= ₹ 45,000