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Question

The total profit as on  31.3.2018 is Rs. 1,25,000 and a partner died on 31st December 2018. Profit earned till 31st December is Rs. 93,750. So what is his share of profit if the profit sharing ratio is equal.



Your Answer
A

None of the above

Correct Answer
B

Rs 31,250

Your Answer
C

Rs 1,25000

Your Answer
D

Rs 62,500


Solution

The correct option is D

Rs 31,250


The deceased partner's claim on profits is only till the date of  death. Profit sharing is given equally. PSR= 1:1:1

Hence, the Rs 93,750 profits till 31st December is shared between the three partners equally.

So, deceased partner's share of profit
=Rs 93,750×13=Rs 31,250

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