Question

Raju, Ravi and Roopa are partners sharing profit and losses in the ratio of 4:3:3. Their capital balances
on 01.04.2019 stood * 1,00,000, 380.000 and 350,000 respectively.
Raju died on 01.10.2019. The partnerships deed provides the followings:
a) Interest on capital at 12% p.a.
b) He had withdrawn 35,000 up to date of death.
c) Raju's share of good will 35,000 (as per AS26)
d) His share of profit up to the date of death on the basis of
previous year profits. Previous year profits 20,000.
Prepare Raju's executors account.​

Answer 1

Answer:

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)

(1) Goods A/C

(2) Wages A/C

(3) Loan A/C

(4) Debtors A/C

(5) Creditors A/C

(6) Furniture A/C

(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C

(10) Discount A/C

(11) Rent Received A/c (12) Building A/C

CANA