Question

Q3 Danish, Ana and Pranjal are partners in a firm sharing profits and losses in
the ratio of 5:3:2. Their books are closed on March 31st every year.
Danish died on September 30th, 2019. The executors of Danish are entitled to:
a. His share of Capital i.e. 5,00,000 along with his share of goodwill. The
total goodwill of the firm was valued at 60,000.
b. His share of profit up to his date of death on the basis of sales till date of
death. Sales for the year ended March 31, 2019 was 2,00,000 and profit
for the same year was 10% on sales. Sales upto the date of death was
1,20,000.
c. Amount payable to Danish was transferred to his executors.
Pass necessary Journal Entries and show the workings clearly.​

Answer 1

Answer:

Amount payable to Danish will be 5,36,000