o Akash Anik Adarshare the partners sharing Profitand louses in the
ratio of 3: 2:1 Their capital as on k-4-2019 were Ra 7.000 R$ 90000
R3.60000 rspectively Abash died an 31-12-19 arid the partners tuip
deed provided the following
a. Interest orakash capital at8y.pa.
b. Akash 5 alary Rs 2000 per month
c. His share of accrued profit up to the date of death based on previous
year proft. Firma profit for 2018-19 R5 24000
d. His share of goodwill R5, 12000
Ascertain the amount payable. Ho Akash Executor by preparing
Akash's capital account
Answers
Answer:
A's Capital a/c.... Dr. 12000
B's Capital a/c.... Dr. 6000
To Goodwill a/c 18000
(Being goodwill written off in the ratio of 2:1)
2. Cash a/c.... Dr. 38000
To C's Capital a/c 30000
To Premium for Goodwill a/c 8000
(Being capital and part premium for goodwill brought in by C)
3. Premium for Goodwill a/c... Dr. 8000
C's Capital a/c.... Dr. 2000
To A's Capital a/c 6667
To B's Capital a/c 3333
(Being premium for goodwill distributed among the partners in the ratio of 2:1)
Working Note:
Distribution of premium for goodwill:
A's share= 10000 * 2/3= 6667
B's share= 10000 * 1/3= 3333