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Amarand ,bhanu and charu are patnars …

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Amarand ,bhanu and charu are patnars in a firm amar and bhanu are to get annual salary of 120000 pa each are they are fully involved in the business .Net profit for the year is 480000 .Determine the share of profit to be credited to each partner

Posted by Daksh Sharma 6 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Nikhil Sharma 6 years, 7 months ago

As given in question that both amar and bhanu will get salary of RS 120000 pa each. So profit of firm is RS 480000 which is equal to salary of both partners 120000+120000=480000. Their remains no surplus, so no amount is credited to partners in form of profit.

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