Question

26. Following is the Balance Sheet of Punita, Rashi and Seema who are sharing profits in the ratio 2:1:2 as an 11
March, 2013.
Liabilities
Rs.
Assets
Creditors
38,000
Building
2.40.000
Bills payable
2,000
Stock
65,000
Capitals:
Debtors
30.000
Punita 1,44,000
Cash at bank
5,000
Rashi 92,000
Profit and loss account
60,000
Seema 1,24,000
3,60,000
4,00,000
400.000
Punita died on 30th September 2013. According to the partnership agreement, She was entitled to interest on
capital @ 8% p.a. Her share of profit till the date of death was to be calculated on the basis of the average profits
of the last three years. Goodwill was to be calculated on the basis of three times the average profits of the last
four years. The profits for the years ended 2009-10, 2010-11 and 2011-12 were Rs. 30000, Rs. 70000 and Rs. 80000
respectively. Prepare Punita's account to be rendered to her executors.
​

Answer 1

Explanation:

Punita's capital A/c

particulars. rs. particulars. rs.

p/l a/c. 24000. bal b/d 144000

p's executor 143760. IOC. 5760

p/l sus. 6000

goodwill 12000

167760. 167760

Answer 2

Answer:

hope it might helps you

please follow me