A.B and C were partners in a firm. B died on 31st August,2018.B’s Share of profit from the closure of the last accounting year till date of death was to be calculated on the basis of the average of three completed years of profits before death. Profits for the years ending 31st March 2016,2017 and 2018 were Rs 40,000; Rs 50,000; and Rs 72,000 respectively . The firm closes its book on 31st March every year .
Calculate B’s share of profit till the date of her death and pass the necessary journal entry for the same assuming;
I. There is no change in the profit sharing ratio of A and C II. There is change in the profit sharing ratio of A and C and the new ratio is 7:5 .
Q-32 A and B were in partnership sharing profits and losses in the ratio of 3:1 On 1st April20
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what's man, this is easy,
just, try ok
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