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A, B and C were Partners with capitals of rs50,000; rs40,000 and rs 30,000 respectively carrying on business in partnership. The firm’s reported profit for the year was rs80,000. 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 rs20,000 in addition to his capital contribution.
rs26,267 for Partner B and C and rs27,466 for Partner A.
rs26,667 each partner.
rs33,333 for A rs26,667 for B and rs20,000 for C.
rs30,000 each partner.
By: santosh ProfileResourcesReport error
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