7.34 Double Entry Book Keeping--CBSE XII
₹
June, 2018. On this date their Balance Sheet was follows:
BALANCE SHEET OF SHIRISH, HARIT AND ASHA as at 31st March, 2018
Liabilities
₹ Assets
Capitals:
Plant and Machinery
Shirish
1,00,000
Stock
Harit
2,00,000
Debtors
Asha
3,00,000 6,00,000 Cash
Profits for the year 2017-18
80,000
Bills Payable
20,000
7,00,000
5,60,004
90,004
10,000
40,000
7,00.00
According to the Partnership Deed, in addition to deceased partner's capital, his executor is entitled to
2016-17 was 60,000.
(11
) Goodwill of the firm was to be valued at 2 years' purchase of average of last two years' profits.
cented to his executor.
be
(CBSE
(30.) Shirish, Harit and Asha were partners in a firm sharing profits in the ratio of 5:4:1. Shirish died on 30th
(1) Share in profits in the year of death on the basis of average of last two years' profit. Profit for the year
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