Vinod Naresh and gaurav are partners sharing profits and loses equally. Their closing capital was ? 2,00,000 each. As per the partnership deed, interest on capital is provided @6% p.a. the profit for the year was ?60, 000. Profit of vinod will be ______
Dear Student,
Interest on Capital :-
Vinod = 2,00,000 x 6% = 12,000
Naresh = 200000 x 6% = 12,000
Gaurav = 200000 x 6% = 12000
Total Profit left for Distribution = 60,000 - 36,000 = 24,000
36,000 to distributed among Vinod, Naresh and Gaurav equally, i.e., 24,000 x 1/3 = 8,000 each.
Profit of Vinod will be = 8,000
Total Payment to Vinod will be = 12,000 + 8,000 = 20,000
Regards
Interest on Capital :-
Vinod = 2,00,000 x 6% = 12,000
Naresh = 200000 x 6% = 12,000
Gaurav = 200000 x 6% = 12000
Total Profit left for Distribution = 60,000 - 36,000 = 24,000
36,000 to distributed among Vinod, Naresh and Gaurav equally, i.e., 24,000 x 1/3 = 8,000 each.
Profit of Vinod will be = 8,000
Total Payment to Vinod will be = 12,000 + 8,000 = 20,000
Regards