Question

Q.29. The Balance Sheet of Ram, Shyam and Mohan, who were sharing profits in the ratio of
6
To
TO
7:4: 3 respectively, as on 31st March, 2014 was as follows:
Amount
Liabilities
Assets
Amount
14,000
25,000
28,000
General Reserve
Bills Payable
Loan
Capitals :
Ram
Shyam
Mohan
Cash
Stock
Investments
Plant and Building
Shyam's loan
36,000
69,000
89,000
1,03,000
25,000
85,000
65,000
1,05,000
2,55,000
3,22,000
3,22,000
Shyam died on 30th June, 2014. The partnership deed provided for the following on the death of a
partner :
(a) Goodwill of the firm be valued at two years' purchase of average profits for the last three
years which were 90,000.
(b) Shyam's share of profit till the date of his death was to be calculated on the basis of sales. Sales
for the year ended 31st March, 2014 amounted to 9,00,000 and that from 1st April to 30th June, 2014
5,40,000. The profit for the year ended 31st March, 2014 was 2,50,000.
(c) Interest on capital was to be provided @ 8% p.a.
(d) According to Shyam's will, the executors should donate his share to 'Maitri Chhaya - an
orphanage for girls'.
Prepare Shyam's Capital Account to be rendered to his executor.
[CBSE 2013]​

Answer 1

Answer:

I don't now Iam so sorry ........

Answer 2

Answer:

TYPE QUESTIONS NOT BIODATA