What will be the share of deceased partner, whose ratio was 1/4 , if the turnover in year of death till the date of death was Rs. 8,00,000 and in prev - Accountancy MCQ CUET Accountancy 2022 20 Aug Shift 2 2026 | ExamTest.live

mediumMCQCUET Accountancy 2022 20 Aug Shift 22026Accountancy

1 mark

What will be the share of deceased partner, whose ratio was \frac{1}{4}, if the turnover in year of death till the date of death was Rs. 8, 00, 000 and in previous year was Rs. 20, 00, 000 ? Profit in previous year was Rs. 4, 00, 000 .

Solution & Step-by-step Explanation

Profit Percentage = (\frac{4 , 00 , 000}{20 , 00 , 000}) \times 100 = 20% .Estimated Profit till death = 20% of Turnover till death = 20% \times 8, 00, 000 = Rs. 1, 60, 000 .Deceased Partner's Share = 1, 60, 000 \times \frac{1}{4} = Rs. 40, 000 .

Try it yourself before checking the explanation above.

What will be the share of deceased partner, whose ratio was \frac{1}{4}, if the turnover in year of death till the date of death was Rs. 8, 00, 000 and in previous year was Rs. 20, 00, 000 ? Profit in previous year was Rs. 4, 00, 000 .

Rs. 40, 000

Rs. 13, 333

Rs. 1, 60, 000

Rs. 1, 00, 000

Practice with timed mock tests and track your performance across Accountancy.