Question 11 of 35
Q.X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed ₹ 36,000.
(a) ₹ 36,000
(b) ₹ 1,000
(c) ₹ 3,000
(d) ₹ 12,000
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2020MCQ· 1mImportance★★★★★
31% · 11/35 Questions
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Start your 14-day free trial to unlock the full solution →X's profit share to the date of death = ₹36,000 × 1/3 × 3/12 = ₹3,000 — option (c).
X, Y and Z shared profits equally, so X's share is 1/3. X died on 1 April 2019, meaning 3 months of 2019 had elapsed (January, February, March). The deceased partner's share of profit up to death is estimated using the previous year's (2018) profit of ₹36,000.
Step-by-step:
| Step | Working | Amount |
|---|---|---|
| Base profit (2018) | given | ₹36,000 |
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