Question

025 Ajay Vijay and Sonnevar partner in a firm sharing profits in the ratio 1 2 1. The firm closes its
books on 3151 March every year on 30th September 2019 Vijay died, on that date his capital account
showed a Debit balance of 5.000 there was a Debit balance of 30000 in profit and loss account. The
Goodwill of the firm was Valued at 3.30000. Vijay s share of profit in the year of his death was to be
calculated on the basis of average profit of the last five years. The profit for the last 5 years are 65000;
B0000-70000 105000 and 130000)
passnecessary Tournal entries in the books of the form on Vijay's death.​

Answer 1

Answer:

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