Who Gets the Profits in a Partnership?

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Solution

In a partnership, the partners in the business get the profit shared among themselves in the ratio as mutually agreed upon by them at the time of registration of partnership agreement. In absence of a partnership deed the profit will be shared equally between the partners.

Also read:

MCQs on Partnership

Partnership Deed

What Is Partnership

Difference Between LLP and Partnership

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Similar questions

Q. A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits. He acquires this share as 1/24th from A and 1/8th from B. Calculate new profit-sharing ratio.

Solve the following.

Antony and Budenmia invests Rs. 24,000 and Rs. 36,000 in a partnership (Small scale industry). At the end of the year, they get Rs.10,000 in the form of profit. What is the amount of profit each gets?

A

and

B

are partners sharing profits and losses in the proportion of

7 : 5

. They agree to admit

C

, their manager, into partnership who is to get

1 / 6^{t h}

share in the profit. He acquires this share as

1 / 24^{t h}

from

A

and

1 / 8^{h t}

from

B

. Calculate new profit-sharing ratio.

Q. R & S are in partnership sharing profit and losses at the ratio

3 : 2

. They take T as a new partner. Calculate the new profit sharing ratio, if T simply gets

1 / 10

th share of profit.

Q. If there is no partnership deed Mr. A who inverted Rs. 20,000 will share the profit _________.

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