Question

28. Stark, Thor & Steve are
partners, sharing profit & loss
in 2:2:1. Stark died on 31 July
2020 & his share of estimated
profit to be calculated on the
basis of Sale-profit ratio. Sale
& Profit for the year ended
31.03.2020 were rs.20,00,000
& rs.4,00,000 respectively,
However Sale forthe period of
01.4.2020 to 31.07.2020 was
only rs.3,00,000. You are
required to pass journal entry
for Stark share of profit.​

Answer 1

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