A, B and C are partners in a firm sharing profit/loss in the ratio of 2 : 2 : 1. On March 31, 2024, C died. Accounts are closed on Dec., 31 every year. The sales for the year 2023 was ₹ 6,00,000 and the profits were ₹ 60,000. The sales for the period from Jan. 1, 2024 to March 31, 2024 were ₹ 2,00,000. The share of deceased partner in the current year’s profits on the basis of sales is:

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₹ 4,000 Explanation: A : B : C = 2 : 2 : 1 1 Jan 2018 - 31 Dec 2018 Sales = ₹ 6,00,000 Profit = ₹ 60,000 Profit % = (6,00,000)/(60,000) = 10% On 31 March 2019 = C died 1 Jan 2019 - 31 March 2019 Sales = ₹ 2,00,000 Profit of the firm = 2,00,000xx10/100 = ₹ 20,000 Share of C for the Current year 20,000xx1/5 = ₹ 4,000

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