CA CPT Model Test Paper 13 with solutions for online practice

Question : 2 of 200

Marks: +1, -0

A, B and C had capital of Rs. 50,000, Rs. 40,000 and Rs. 30,000 respectively for carrying on business in partnership. The firm's reported profit for the year was Rs. 80,000. As per provision of the Indian Partnership Act, 1932, find out the share of each partner in the above amount after taking into account that no interest has been provided on an advance by A of Rs. 20,000, in addition to his capital contribution:

Rs. 26,267 for partner B and C & Rs. 27,466 for partner A.
Rs. 26,667 each partner.
Rs. 33,333 for A, Rs. 26,667 for B and Rs. 20,000 for C.
Rs. 30,000 each partner.

Validate

Go to Question:

Prev Question

Next Question