Question

.P, Q and R were partners sharing profits in the ratio of 2 2:1. The firm closes
its books on
March 31 every year. On June 30, 2017, R died. The following information is
provided on R's death
Balance in his capital account in the beginning of the year was Rs. 6,50,000
He withdrew Rs. 60,000 on May 15, 2017 for his personal use.
On the date of death of a partner the partnership deed provided for the
following:
Interest on capital @ 10% per annum
Interest on drawings @ 12% per annum.
His share in the profit of the firm till the date of death, to be calculated on the
basis of the rate of Net Profit on Sales of the previous year, which was 25 %.
The Sales of the firm till June 30, 2017 were Rs. 6,00,000​

Answer 1

Answer:

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Explanation:

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