A,B and C are partners in a firm, sharing Profits and Losses in the ratio of 2:2:1. Their capital accounts stood as ₹50,000, ₹50,000 and ₹25,000 respectively. B died and balance in the reserve on that date was ₹15,000. If goodwill of the firm is ₹30,000 and profit on revaluation is ₹7,050. What amount will be transferred to B’s Executive Account?
a)₹50,820
b)₹70,820
c)₹8,820
d)₹60,820
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Answer:
Answer
Correct option is
A
Rs.1,41,640
Calculation of amount transferred to B's loan A/c :
B's
Particulars Amount
(Rs.) Particulars Amount
(Rs.)
To B's loan A/c 141640 By balance b/d
By reserves A/c
By goodwill A/c
By Profit on revaluation A/c 100000
12000
24000
5640
141640 141640
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