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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 5 · Set 3 · Q4
Khushi, Namita and Manvi were partners in a firm sharing profits and losses in the ratio of 5: 2: 3. On 30 1 June, 2022, Khushi died. The partnership…
Khushi, Namita and Manvi were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 2$ : 3. On $\displaystyle 30$**$\displaystyle 1$ June, $\displaystyle 2022$, Khushi died. The partnership deed provided that on the death of a partner, her share of profit till the date of death was to be calculated on the basis of average profit of last three years less ₹ $\displaystyle 10$,000. Profits for the last three years were : Year ended Profits/Loss (Q) 31st March, $\displaystyle 2020$ $\displaystyle 1,20,000$ 31st March, $\displaystyle 2021$ $\displaystyle (50,000)$ 31st March, $\displaystyle 2022$ $\displaystyle 1,70,000$ Khushi's share of profit till the date of her death was :
Official answer
(D)
₹ $\displaystyle 8,750$
Marking-scheme solution
(D)
-- ₹$\displaystyle 8,750$
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CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.