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Adjustment in Partner's Capital A/c

X and Y are s...

Question

X and Y are sharing profits in the ratio of 2: 1. They admitted Z into the firm with 1/4 shares in profits for which he brings 15,000 as his share of capital. The partners decide to have their capitals according to the new profit sharing ratio. As a result, the adjusted capital of Y will be:

A

10,000

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B

15,000

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C

16,000

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D

24,000

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Solution

The correct option is A 15,000
Overall capital of the firm = 15000 * 4/1 = 60000
New PSR = 2 : 1 : 1
Y's Capital = 60000 * 1 / 4 = Rs 15000

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