21 :- Raman, Param and Karan were partners sharing profits and losses in the ratio of 3:2:1. Param died on 31st December, 2024. Accounts of the firm are closed on 31st march every year. Sales for the year ended 31st March, 2024 was Rs 12,00,000 and sales for the nine months ended 31st December 2024 was Rs 6,00,000. loss for the year ended 31st March, 2024 was Rs 90,000.
Calculate deceased partner’s share of profit/losses from the beginning of the accounting year upto 31st December, 2024.
Solution :- Calculation of Param’s share in loss
Total sales for the year ended = Rs 12,00,000
Loss for the year ended = Rs 90,000
Percentage of loss in terms of sales = 90,000/12,00,000 x 100
= 7.5%
Sales from 1st April to 31st Dec = Rs 6,00,000
Loss for the same period = 6,00,000 x 7.5/100
= Rs 45,000
Param’s share in loss = 45,000 x 2/6
= Rs 15,000