A, B, C carry on business sharing the profits in the ratio of 2/3, 1/3, 5/6 respectively. Capitals as on 1-1-2021 are A OMR 50,000, B OMR 45,000 and C OMR 30,000. On 31-10-2021 B died and his executors claim the profit. Calculate B's share of profits till the date of death on the basis of average profits of the preceding 4 years. The annual profit or loss figures of preceding five years were: 15,000, 2 - 4,000 Loss, 3- 3,000 (loss), 4-28,000, 5- 18,000. 1 -
A, B, C carry on business sharing the profits in the ratio of 2/3, 1/3, 5/6 respectively. Capitals as on 1-1-2021 are A OMR 50,000, B OMR 45,000 and C OMR 30,000. On 31-10-2021 B died and his executors claim the profit. Calculate B's share of profits till the date of death on the basis of average profits of the preceding 4 years. The annual profit or loss figures of preceding five years were: 15,000, 2 - 4,000 Loss, 3- 3,000 (loss), 4-28,000, 5- 18,000. 1 -
Chapter13: Comparative Forms Of Doing Business
Section: Chapter Questions
Problem 31CE
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Transcribed Image Text:A, B, C carry on business sharing the profits in the
ratio of 2/3, 1/3, 5/6 respectively. Capitals as on
1-1-2021 are A OMR 50,000, B OMR 45,000 and
C OMR 30,000. On 31-10-2021 B died and his
executors claim the profit. Calculate B's share of
profits till the date of death on the basis of average
profits of the preceding 4 years. The annual profit
or loss figures of preceding five years were:
15,000, 2 - 4,000 Loss, 3- 3,000 (loss), 4-28,000, 5-
18,000.
1
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