Question

Aman, Bimla and Sonia were partners sharing profits in the ratio 2 : 2 : 1. On July 1, 2017 Sonia died. The

books of accounts are closed on March 31 every year. Sales for the year 2016-17 amounted to Rs. 5,00,000 and

that from 1st April, to 30th June, 2017 were Rs. 1,40,000. The rate of profit during the past three years had been

10% on sales. Since Sonia’s legal representative was her only son, who is specially abled, it was decided that

the profit for the purpose of settling Sonia’s account is to be calculated as 20% as sales. Calculate Sonia’s share

of profits till the date of her death and pass necessary Journal entry for the same. ​

Answer 1

Answer:

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Explanation:

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