Question

Aditi, Sukriti, and Niti were partners sharing profits in the ratio of 2 : 2 : 1. Sukriti died on 30th June, 2023. Net profit for the year ended 31st March, 2023, was |4,50,000. If the deceased partner’s share of profit is to be calculated on the basis of the previous year’s profit, the amount of profit credited to Sukriti’s Capital Account will be:

• A. rupee 90,000
• B. rupee 45,000
• C. rupee 1,80,000
• D. rupee 1,12,500

Hint:

When a partner dies mid-year, their share of profit is calculated proportionally based on the time they were active in the firm.

Answer 1

The Correct Option is B

1. Annual Profit of the Firm = rupee 4,50,000 

2. Sukriti’s Profit-Sharing Ratio = \( \frac{2}{5} \) \[ {Sukriti’s Annual Share of Profit} = 4,50,000 \times \frac{2}{5} = rupee 1,80,000 \] 

3. Profit for the Period from 1superscript{st} April 2023 to 30superscript{th} June 2023 (3 months): Since the profit is for one full year, we calculate Sukriti’s share for 3 months (April–June): \[ {Sukriti’s Profit for 3 months} = 1,80,000 \times \frac{3}{12} \] \[ = 1,80,000 \times \frac{1}{4} = rupee 45,000 \] 

Thus, the amount credited to Sukriti’s Capital Account = rupee45,000 (Option B).