Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Yash and Rakesh are partners in a firm out of which Yash is Sleeping partner and Rakesh is working partner. Yash invests Rs. 1,40,000

Yash and Rakesh are partners in a firm out of which Yash is Sleeping partner and Rakesh is working partner. Yash invests Rs. 1,40,000 and Rakesh invests Rs. 80,000. Rakesh receives 12.5% of profit for managing the business and the rest is shared between them in ratio of their investments. Rakesh's share of profit in profit of Rs. 17600 is: 1. 7800 2. 5600 3. 9800 4. 6400 5. 4600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Solution 1 Profit received by Rakesh for managing the business 125 ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of Accounting

Authors: Needles, Powers, crosson

11th Edition

1439037744, 978-1133626985, 978-1439037744

More Books

Students also viewed these Mathematics questions