4. Shobha Sudha and Rathna arte partners. Sha ing profit and losses in the ratio of 2:2:1. Their Balance sheet as on 31-03-2018 was as folle vs: (QP-2019) Balance sheet as n 31-03-2018 Liabilities Assets ₹ Sundry creditors 30,000 Dash in hand 10,000 Capitals: Debtors 25,000 Shobha - 15,000 Stock 40,000 Sudha - 25,000 Plant &machinery 40,000 Rathna - 30,000 70,000 Reserve fund 15.000 1,15,000 1,15,000 Rathna died on 30-06-2018. Her executors should be entitled to: 1) Her capital on the date of last balar ce sheet 2) Her share of reserve fund on the di e of last balance sheet 3) Her share of profit up to the date o death, on the basis of previous year's profit. Previous year profit is 20,000. 4) Her share of Goodwill. Good will fthe form is valued at 40,000. 5) Interest on capital at 10%p.a.
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Answer:Rathna died on 30.06.2018. Her executor’s should be entitled to : (a) Her capital on the date of last Balance sheet. (b) Her share of reserve fund on the date of last Balance sheet. (c) Her share of profit up to the date of death, on the basis of previous year’s profit. Previous year profit is Rs. 20,000. (d) Her share of goodwill. Goodwill of the firm is valued at Rs. 40,000. (e) Interest on capital at 10% p.a You are required to ascertain amount payable executors of Rathna by preparing Rathna’s capital account.Read more on Sarthaks.com - https://www.sarthaks.com/635531/shobha-sudha-and-rathna-are-partners-sharing-profits-and-losses-in-the-ratio-2-2-1
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