Mukesh, Dhaval and Vinod are the partners of a partnership firm. Their

1.	Mukesh, Dhaval and Vinod are the partners of a partnership firm. Their capital proportion is 4 : 2 : 3. Dhaval and Vinod has given assurance to Mukesh that he will get minimum ₹ 35,000 form the profit. The profit of the year is ₹ 90,000. How would you distribute the profit among the partners ?
Answer» Profit distribution : Mukesh, Dhaval and Vinod are partners sharing profit and loss equally. ∴ Profit for each partner = \(\frac{90000}{3}\) = ₹ 30,000 But Dhaval and Vinod gave guarantee of ₹ 35,000 as profit share to Mukesh ∴ Deficit amount ₹ 5,000 is to be bear by Dhaval and Vinod in equal ratio e.g. ₹ 2,500. ∴ Final distribution of profit : Mukesh : 30,000 + 5,000 = ₹ 35,000 ; Dhaval : 30,000 – 2,500 = ₹ 27,500 Vinod : 30,000 – 2,500 = ₹ 27,500 Thus, profit of Mukesh, Dhaval and vinod are resp. X 35,000, ? 27,500 and ? 27,500.

Mukesh, Dhaval and Vinod are the partners of a partnership firm. Their capital proportion is 4 : 2 : 3. Dhaval and Vinod has given assurance to Mukesh that he will get minimum ₹ 35,000 form the profit. The profit of the year is ₹ 90,000. How would you distribute the profit among the partners ?

Answer»

Profit distribution : Mukesh, Dhaval and Vinod are partners sharing profit and loss equally.

∴ Profit for each partner = \(\frac{90000}{3}\) = ₹ 30,000

But Dhaval and Vinod gave guarantee of ₹ 35,000 as profit share to Mukesh

∴ Deficit amount ₹ 5,000 is to be bear by Dhaval and Vinod in equal ratio e.g. ₹ 2,500.

∴ Final distribution of profit :

Mukesh : 30,000 + 5,000 = ₹ 35,000 ;

Dhaval : 30,000 – 2,500 = ₹ 27,500

Vinod : 30,000 – 2,500 = ₹ 27,500

Thus, profit of Mukesh, Dhaval and vinod are resp. X 35,000, ? 27,500 and ? 27,500.