Question

1671 114,
Mahavire
His shared
profite. The
2010-11
e) He had als
Prepare Me
Death of a partner
18. Keshav, Mukesh and Anil were partners in a firm sharing profits and losses in the
ratio of 5.3.2. On 31" Mar 2012, their balance sheet was as under
Balance sheet as on 31. 03. 2012
Klabities
Assets
Creditora
14,000 Cash
Reserve and
8,000
0,0001 Debtors
11,000
Patents
11,000
kdshav
30,000
Stock
10,000
Mukeshi
25,000
Machinery
30,000
Anil
15.000 70,000 Buildings
20,000
90,000
90,000
kaahav died on 30th sept. 2012. It was agreed between his executors and the surviving
partners that
a) Goodwill to be valued at two and half years purchase of the average profits of the
previous 4 year, whieh were
2008-09 2,000 2009-10 20,000; 2010-11 13,000, 2011-12 15,000,
b) Share in the profit from the date of last balance sheet till to the date of death to be
calculated on the basis of last year's profit
e) Intereat on capital to be allowed at 19% p.A.
d) Share in the revaluation account balance, his share is €5,000(er)
20. Reddy,
Kablitas
Creditore
Bills payable
Reserve fun
Capitale
Reddy
REDMI NOTE S PRO
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Answer 1

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