{"id":53002,"date":"2024-04-15T23:47:38","date_gmt":"2024-04-15T23:47:38","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=53002"},"modified":"2024-04-15T23:47:38","modified_gmt":"2024-04-15T23:47:38","slug":"x-and-y-are-partners-who-share-profit-and-loss-in-the-ratio-of-2-1-and-who-have-capital-balances-credit-of-rs-40000-and-rs-30000-respectively-if-z-with-the-consent-of-y-acquired-one-half-o","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-partners-who-share-profit-and-loss-in-the-ratio-of-2-1-and-who-have-capital-balances-credit-of-rs-40000-and-rs-30000-respectively-if-z-with-the-consent-of-y-acquired-one-half-o\/","title":{"rendered":"X and Y are partners who share profit and loss in the ratio of 2 : 1, and who have capital balances (credit) of Rs. 40,000 and Rs. 30,000 respectively. If Z, with the consent of Y, acquired one-half of X’s interest for Rs. 25,000, for what amount would Z’s Capital Account be credited:"},"content":{"rendered":"

[amp_mcq option1=”Rs. 25,000″ option2=”Rs. 5,000″ option3=”Rs. 15,000″ option4=”Rs. 20,000″ correct=”option3″]<\/p>\n

The correct answer is C. Rs. 15,000.<\/p>\n

X and Y share profit and loss in the ratio of 2 : 1, so X’s capital balance is 2\/3 of the total capital balance, and Y’s capital balance is 1\/3 of the total capital balance. The total capital balance is Rs. 40,000 + Rs. 30,000 = Rs. 70,000. Therefore, X’s capital balance is 2\/3 * Rs. 70,000 = Rs. 40,000.<\/p>\n

Z acquired one-half of X’s interest for Rs. 25,000. This means that Z acquired 1\/2 * Rs. 40,000 = Rs. 20,000 of X’s capital balance.<\/p>\n

Z’s capital account would be credited with Rs. 20,000.<\/p>\n

Here is a step-by-step solution:<\/p>\n

    \n
  1. Calculate X’s capital balance: X’s capital balance = 2\/3 * Rs. 70,000 = Rs. 40,000<\/li>\n
  2. Calculate Z’s capital contribution: Z’s capital contribution = 1\/2 * Rs. 40,000 = Rs. 20,000<\/li>\n
  3. Calculate Z’s capital account balance: Z’s capital account balance = Z’s capital contribution = Rs. 20,000<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

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