Question

P. Q and R were partners in a firm. Q died on 31st December,2019. Q's share of profit from the
closure of the last accounting year till the date of death was to be calculated on the basis of the
average of three completed years of profits before death. Profits for the year ending 31st March
2017, 2018 and 2019 were Rs.92,000; Rs.1,50,000 and Rs.2,44,000 respectively. The firm
closes its books on 31" March every year.
Calculate Q's share of profit till the date of his death and pass the journal entry for the same.
Tam
boda borditola 00 00
OD​

Answer 1

Answer:

rs 40,500

Explanation:

avg profit =92000+150000+244000/3

486000/3*9/12*1/3