Death of partner. partnership fundamentals.calculation of share of PARTNER on the basis of SALES.
Death of a partner. partnership fundamentals. calculation of the share of PARTNER based on SALES. IN THIS VIDEO YOU WILL LEARN HOW TO CALCULATE THE SHARE OF PROFIT OR LOSS OF THE DECEASED PARTNER BASED ON TURNOVER AND TIME. KINDLY WATCH ALL THE VIDEOS IN A PROPER ORDER TO GET BETTER UNDERSTANDING. THANKS AND REGARDS.
Transcript
00:00so today we will understand how to calculate the share of profit or loss of the deceased
00:05partner till the date of his death on the basis of sales we need three things here sales
00:10of the previous accounting period sales till his death and profit for the previous year
00:15we will calculate first rate of profit to sales right so suppose we have sales of previous
00:22year is 12 lakh and till his death 3 lakhs and profit 2 lakh 40,000 so calculate the
00:29rate of profit to sales 2 lakh 40,000 divided by 12 lakh that would be 20% so now calculate
00:36the 20% of 3 lakh that would be the profit of the firm of two months right that would
00:44be 60,000 60,000 would be the profit and suppose he is entitled one fourth share in the profits
00:51then 60,000 into one by four 15,000 would be credited in his account so hit the like
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