Question

Kavita and Lalita are partners sharing profits in the ratio of 2:1. They decide to admit Mohan for 1/4th share in future profits with a guaranteed amount of ₹25,000.Both Kavita and Lalita undertake to meet liability arising due to gauranteed amount to Mohan in their respective profit sharing ratio. The firm earned profits of ₹76,000 for the year 2022-23. The deficiency borne by Kavita is

• A. ₹2,000
• B. ₹4,000
• C. ₹6,000
• D. ₹4,500

Answer 1

The Correct Option is B

To solve the problem, we must first calculate Mohan's share of the profit for the year 2022-23, determine if there is any deficiency compared to his guaranteed amount, and find Kavita's portion of the deficiency. 

1. Calculate total profits:
   Total profits for the year 2022-23 = ₹76,000
2. Determine Mohan's share of the profit:
   Mohan's share = (1/4) × ₹76,000 = ₹19,000
3. Compare Mohan's share with his guaranteed amount:
   Guaranteed amount = ₹25,000
   Deficiency = ₹25,000 - ₹19,000 = ₹6,000
4. Determine Kavita's share of the deficiency:
   Kavita and Lalita share profits and losses in the ratio of 2:1. Hence, Kavita's share of the deficiency = (2/3) × ₹6,000 = ₹4,000

Thus, the deficiency borne by Kavita is ₹4,000.

Answer 2

Calculation of Deficiency Borne by Kavita 

This document outlines the steps to calculate the amount of deficiency borne by Kavita due to a guaranteed profit share to Mohan.

1. Calculate Mohan’s Actual Share of Profit:

Mohan’s share of the profit, based on his 1/4 share, is calculated as follows:

Mohan’s Share = Total Profit × Mohan's Share Ratio

Using the given data:

Mohan’s Share = $76,000 \times \frac{1}{4} = Rs. 19,000$

1. Determine the Deficiency:

Since Mohan is guaranteed Rs. 25,000, the deficiency (the difference between the guaranteed amount and the actual amount) is:

Deficiency = Guaranteed Amount − Actual Share

Using the calculated share:

Deficiency = $25,000 - 19,000 = Rs. 6,000$

1. Deficiency Borne by Kavita:

Kavita and Lalita share this deficiency in the ratio of 2:1. Therefore, Kavita’s share of the deficiency is:

Kavita’s Share = Total Deficiency × Kavita's Share Ratio

Using the given ratio:

Kavita’s Share = $6,000 \times \frac{2}{3} = Rs. 4,000$

Conclusion:

Therefore, the deficiency borne by Kavita is Rs. 4,000.

Answer 3

Here's how to solve the problem:

Mohan's Profit Share:
Mohan's share = (1/4) \(\times\) ₹76,000 = ₹19,000

Deficiency:
Deficiency = Guaranteed Amount - Mohan's Share
Deficiency = ₹25,000 - ₹19,000 = ₹6,000

Deficiency borne by Kavita and Lalita:
Kavita and Lalita bear the deficiency in their profit-sharing ratio of 2:1.
Kavita's share of deficiency = (2/3) \(\times\) ₹6,000 = ₹4,000
Lalita's share of deficiency = (1/3) \(\times\) ₹6,000 = ₹2,000

Final Answer: The deficiency borne by Kavita is ₹4,000.