Question

Amala, Kamala and Vimala are partners sharing profits and losses in the ratio of
2:2:1. Their capital balances on 01/04/2017 stood at ₹90,000, ₹60,000 and ₹40,000
respectively. Kamala died on 01/01/2018. The partnership deed provides the
following:
a. Interest on capital@10% p.a.
b. Salary to Kamala, ₹2,000 per month.
c. Kamala’s share of goodwill.
d. His share of profit up to the date of death on the basis of previous year’s profit.
(i) Total goodwill of the firm is ₹54,000
(ii) Profit of the firm for the year 2016-17 is ₹30,000

Answer 1

Answer:

I) 1300 goods

II) ₹30,000

This is your answer friend

Answer 2

Answer:

New Profit Sharing Ratio = Old Ratio – Sacrificing Ratio Vimala Vimla = 4/7 - 1/14 = (8 - 1)/14 = 7/14 Kamala = 3/7 - 1/14 = (6 - 1)/14 = 5/14 Vinita = 1/14 + 1/14 = 2/14 New Profit Sharing Ratio = 7 : 5 : 2 Sacrificing Ratio = 1 : 1Read more on Sarthaks.com - https://www.sarthaks.com/893757/vimala-kamala-partners-sharing-profits-and-losses-ratio-vinitha-enters-into-partnership?show=893758#a893758