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Question : If the total assets of a firm are Rs.24,00,000 and the total liabilities are Rs.4,80,000 what will be the capitals of P, Q and R if they share profits in the ratio of their capitals and the profit sharing ratio is 1: 2: 3?

Option 1: P 4,80,000; Q3,20,000; R 1,60,000

Option 2: P 3,20,000; Q 6,40,000; R 9,60,000

Option 3: P 2,00,000; Q 4,00,000; R 6,00,000

Option 4: P 6,00,000; Q 4,00,000; R 2,00,000


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 13th Jan, 2024

Correct Answer: P 3,20,000; Q 6,40,000; R 9,60,000


Solution : Answer = P 3,20,000; Q 6,40,000; R 9,60,000

Memorandum balance sheet
Outsiders liabilities 4,80,000 S.Assets 24,00,000
Capitals 19,20,000
P-3,20,000
Q-6,40,000
R-9,60,000
24,00,000 24,00,000

Hence, the correct option is 2.

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