A,B and C start a business each investing Rs 20000. After 5 months A withdrew Rs 5000, B Rs 4000 and C invested Rs 6000 more. At the end of the year a total profit of Rs 69900 was recorded. What is the share of B?

Match List I with List II:

Choose the correct answer from the options given below:

A, B, C and D are partners in a firm sharing profits in the ratio of 3:2:1:4. A retired and his share is acquired by B and C in the ratio 3:2. Calculate the new profit sharing ratio of partners.

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ABC & Co. had 3 partners: Alok, Bhavya, and Chirag, sharing profits in 4:3:3. The firm dissolved on 31 March 2024. Assets worth ₹9,00,000 were realized at 80%, creditors of ₹70,000 were paid, and an unrecorded liability of ₹20,000 was settled for ₹15,000. Realization expenses of ₹25,000 were borne by Alok.
Find the amount realized from assets.
What journal entry is made for realization expenses paid by Alok?
The unrecorded liability settled at a lesser value causes:

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Naval, Nyaya and Nritya were partners sharing profits in the ratio of 3:5:2. On 31st March, 2024, Nyaya retired. Revaluation of assets and goodwill adjustments were made. Prepare Revaluation Account and Partners’ Capital Accounts.

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Guru, Samta and Prakash were partners in a firm sharing profits and losses in the ratio of 2 : 3 : 5. On 31st March, 2024, their Balance Sheet was as follows: \begin{center} Balance Sheet of Guru, Samta and Prakash as at 31\textsuperscript{st March, 2024} \end{center} \begin{tabular}{|p{4cm}|r|p{7cm}|r|} \hline Liabilities & Amount (₹) & Assets & Amount (₹)
\hline Creditors & 4,20,000 & Cash at Bank & 3,10,000
Mrs. Guru’s Loan & 5,00,000 & Stock & 6,00,000
Samta’s Loan & 4,40,000 & Debtors & 3,90,000
& & Less: Provision for doubtful debts & (10,000)
& & & 3,80,000
Capitals: & & Land and Building & 4,14,000
Guru & 3,00,000 & Plant and Machinery & 9,00,000
Samta & 5,00,000 & &
Prakash & 4,44,000 & &
\cline{2-2} Total & 26,04,000 & Total & 26,04,000
\hline \end{tabular} On the above date the firm was dissolved and the following transactions took place :
(i) Debtors were taken over by creditors in full settlement of their account.
(ii) 50% of stock was taken over by Samta at 10% less than book value. Remaining stock sold at 20% profit.
(iii) Land and Building taken over by Prakash for ₹ 20,00,000.
Plant and Machinery sold as scrap for ₹ 1,00,000.
(iv) Guru agreed to pay off Mrs. Guru’s loan.
(v) Realisation expenses amounted to ₹ 56,000.
Prepare the Realisation Account.

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A, B and C start a business each investing Rs 20000. After 5 months A withdrew Rs 5000, B Rs 4000 and C invested Rs 6000 more. At the end of the year a total profit of Rs 69900 was recorded. What is the share of B?

The Correct Option is C

Solution and Explanation

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