10 :- Juhi, Riya and Pari are partners sharing profits and losses in the ratio of 3:2:1. Riya died on 30th June,2024.For the year ended 31st March 2025, proportionate profit of 2024 is to be taken into consideration. During the year ended 31st March, 2025, bad debts of Rs 2,000 had to be adjusted. Profit for the year ended 31st March, 2024 was Rs 14,000 before adjustments of Bad debts.
Calculate Riya’s share of profit till the date of her death.
Solution :-
Calculation of Riya’s share of profit
Profit sharing ratio of Juhi, Riya and Pari is 3:2:1
Riya died on 30th June 2024
Profit for the year ended 31st March, 2024 after all adjustment = 14,000 – 2,000
= Rs 12,000
Riya’s share of profit = 12,000 x 2/6 x 3/12 = Rs 1,000