Question

classmate
Date
Page
Lata, Atha and ucha ase partners sharing profit and losses
of 2:2:1 respectively. Their balancesheet at
on 1st March 2017 was as follows:
in the ratio
Ant
liabilities
Assests
Capital Acc:
Premises
3,45,00
lata: 1,80,000
Machinery 11,05,000
Asha! 300,000
Inwestonents
2,16.00
Usha: 1, 2o, ooo 6,00,000 Sunday creditors 2, 46,000
Resernes
1,00,000 closing
stock 90,000
60.000
3,00,000 cash at bank
10,50,000
10.50.000
Usha died on 1st oct 2017. The partneschip deed provided
Sunday creditore
the following
OP
oy
The deceased partner is entitled to her share of goodwill
of the firm calculated on the basis of 3 years puschase of
average profits of last 4 years. The profits of last 4 years are:
31st March 2014: 90,000 31st March 2015: 1,50,oo
31st March 2016: 120,00,
zist March 2017 12,40,000
Usha's will be entitled to her shape of propit up to-
to the date
of
death based on previous years profit.
Premises were valued at $4,00.000, depreciate machinery
@ 10%, unrecorded claim of creditors amount to £30,000 .
Interest on capital to be allowed @ 10% p.a ...Drawings of the
deceased partner up to the date of death amounted to 45,00
Balanceit in two equal half yearly instalment with
cinterest @ky pai on outstanding balance.
Usha's capital Afc
W
Revaluation All
i usha's Executors loan Ale till settlement of
amount due
1% balance sheet.
OF
Prepare​

Answer 1

Answer:

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Explanation:

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