A, B and C were partners sharing profits and
losses in the ratio of 3:2:1. C’s died on 30fh
April, 2019. His share of profit was to be
calculated on the basis of average profit of last
three years. The firm closes its books on 31st
December every year.Profits for 2016, 2017and
2018 were 80, 000, 61,000 and Rs 75,000
respectively. Calculate C’s share of profit. Pass
necessary journal entry also.
(C’s share of profit =4,000)
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