Mickey, Tom and Jerry Were Partners In The Ratio of 5:3:2. On 31st March 2021 - Bzziii.com

Mickey, Tom and Jerry were partners in the ratio of 5:3:2. On 31st March 2021, their books reflected a net profit of ₹2,10,000. As per the terms of the partnership deed they were entitled for interest on capital which amounted to ₹80,000, ₹60,000 and ₹40,000 respectively. Besides this a salary of ₹60,000 each was payable to Mickey and Tom. Calculate the ratio in which the profits would be appropriated.

(A) 1:1:1
(B) 5:3:2
(C) 7:6:2
(D) 4:3:2

(C) 7:6:2 

Explanation:

	Mickey	Tom	Jerry
Interest on the Capital	80,000	60,000	40,000
Salary to the Partners	60,000	60,000	–
Total	1,40,000	1,20,000	40,000

Mickey's Ratio

= `"1,40,000"/"3,00,000"` = `"70,000"/"1,50,000"`

= `14/30` = `7/15`

Tom's Ratio

= `"1,20,000"/"3,00,000"` = `"60,000"/"1,50,000"`

= `"12"/"30"` = `"6"/"15"`

Jerry's Ratio

= `"40,000"/"3,00,000"` = `"20,000"/"1,50,000"`

= `"4"/"30"` = `"2"/"15"`

∴Mickey:Tom:Jerry = 7:6:2

---

27 28 29 30 31

CBSE Class 12 Accountancy Sample Paper-2022