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A and B share old profits in 7:8. Revaluation profit ₹75000 was wrongly shared equally. How much was A given less or more?

Answer and explanation

Correct answer: ₹2500 more

A's correct share is ₹75000 × 7/15 = ₹35000 but he received ₹37500 equally. So A received ₹2500 more.

Related tags

Error RectificationProfit DistributionOld RatioAsset RevaluationReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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