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Commerce · Q570

Accounting

Graduate and Post Graduate · Commerce · question 570

Q570

X, Y and Z are partner in a partnership firm who share profits and loses in 4 : 2 : 1. It is decided that Z's share of profit will not be less than Rs. 7,500. If profit for the year is Rs. 31,500 then how will be profit distributed between each partner?

A.
X Rs. 16,000, Y Rs. 8,000, Z Rs. 7,500
Answer
B.
X Rs. 14,000, Y Rs. 10,000, Z Rs. 7,500
C.
X Rs. 15,500, Y Rs. 8,500, Z Rs. 7,500
D.
X Rs. 18,000, Y Rs. 6,000, Z Rs. 7,500

Answer: Option A

Solution

Answer: Option A
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