Amar,Bhanu,and Charu are partners in firm Amar and Bhanu are to get annual salary of 1,20,000 p - Accountancy - Dissolution of Partnership Firm

Question

Amar,Bhanu,and Charu are partners in firm Amar and Bhanu are to get
annual salary of ? 1,20,000 p a com each as they are fully involved
in the business Net profit for the year is ?4,80,000 Determine the
share of profit to be credit to each partner

Komal Rani · Accepted Answer

Dear student Net divisible profit = 480000 -120000-120000 = 240000
As nothing is mentioned profit will be shared equally Amar's Share
of profit - 240000*1/3 = 80000 Bhanu's Share of profit - 240000*1/3
= 80000 Charu's Share of profit - 240000*1/3 = 80000 Regards

Amar,Bhanu,and Charu are partners in firm .Amar and Bhanu are to get annual salary of ? 1,20,000 p.a.com each as they are fully involved in the business .Net profit for the year is ?4,80,000. Determine the share of profit to be credit to each partner.