Home › CBSE Class 12 (Commerce) › Accountancy › Accounting for Partnership Firms: Fundamentals › Mohan put in Rs. 20,000 and Shyam Rs. 50,000 wit…
Mohan put in Rs. 20,000 and Shyam Rs. 50,000 with no deed. Mohan's profit share?
AEqual share
B2/7 of profit
CNil share
D20% of profit
Answer & Solution
Correct answer: A. Equal share
With a silent deed, profits are divided equally irrespective of unequal capital, so Mohan gets half.
Related questions
In a sole proprietorship, where does net profit go?If the deed is silent, how are losses shared?Interest on capital is allowed on capital for what period?Where do partners' capital accounts appear in the balance sheet?A partner's capital account is fixed. Where is his share of profit credited?Rs. 9,000 of omitted interest on capital is shared equally by two partners. Each is chargeInterest on capital was omitted: Rameez Rs. 3,000, Zaheer Rs. 6,000, profits equal. Net adWhat is a past adjustment in partnership accounts?