76 :- A, B, and C were in partnership sharing profits and losses in the ratio of 4 : 2 : 1. It was provided that C’s share in profit for a year would not be less than Rs 75,000. Profit for the year ended 31st March, 2025 is Rs 3,15,000. You are required to show the appropriation among the partners, Profit and Loss Appropriation account is not required.
Solution :-
Divisible profit = 3,15,000
A’s share of profit = 3,15,000 x 4/7 = Rs 1,80,000
B’s share of profit = 3,15,000 x 2/7 = Rs 90,000
C’s share of profit = 3,15,000 x 1/7 = Rs 45,000
Deficiency in C’s share of profit = (75,000 – 45,000) = Rs 30,000
Deficiency will be borne by A and B in their profit sharing ratio i.e, 4:2 or 2:1
A will bear = 30,000 x 2/3 = Rs 20,000
B will bear = 30,000 x 1/3 = Rs 10,000
Final share of all the partners
A’s share = 1,80,000 – 20,000 = Rs 1,60,000
B’s share = 90,000 – 10000 = Rs 80,000
C’s share = 45,000 + 30000 = Rs 75,000
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