Question

abilities
30
Sundry Creditors
Reserve Fund
Capital A/cs: Pooja
Qureshi
les
012
28. On 31st March, 2014, the Balance Sheet of Pooja, Qureshi and Ross, who were partners in a firm was as under:
₹ Assets
₹
2,50,000 Building
2,60,000
er.
2,00,000 Investment
1,10,000
1,50.000
Qureshi's Loan
1,00,000
1,00,000
Debtors
1,50,000
Ross
1,00,000 3,50,000 Stock
1,20,000
Cash
60,000
8,00,000
8,00,000
Qureshi died on 1st July, 2014. The profit-sharing ratio of the partners was 2:1:1. On the death of a partner,
Sed the Partnership Deed provided for the following:
(1) His share in the profits of the firm till the date of his death will be calculated on the basis of average
profits of last three completed years.
(ii) Goodwill of the firm will be calculated on the basis of total profit of last two years.
(1Interest on loan given by the firm to a partner will be charged at the rate of 6% p.a. or 4,000,
whichever is more.
(iv) Profits for the last three years were 45,000; 8 48,000 and 33,000.
(Delhi 2015)
Promo Oureshi's Capital Account to be rendered to his executors.
March 2018 and the Balance Sheet of the firm on that
hree​

Answer 1

Answer:

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Answer 2

Answer:

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