Question

Raju, Ravi and Roopa are partners sharing profit and losses in the ratio 4:3:3. Their capital as on 1.4.2017 stood Rs.1,00,000,Rs.80,000, and Rs. 50,000 respectively. Raju died on 1.10. 2017. The partnership deed provides the following:

a) interest on capital at 12% per annum

b) He had withdrawn 5,000 up to date of death.

c) Raju share of goodwill Rs. 5,000

d) His share of profit up to the date of death on the basis of previous year. Previous years profit Rs. 20,000. Prepare raju's executer's account

Answer 1

Answer:

1.) interest in capital will be rs 5000

2.) drawings will be rs.25,000

Explanation:

• 1.) 100,000
• $100000 \times 12 \div 100 \times 5 \div 12$
• drawings :-
• $5000 \times 5 months$