Question

shobha ,sudha and rathna are partners sharing profit and loss in the ratio of 2:2:1.there balance sheet as on 31 March 2018 was as follows. liabilities=sundry creditors 30000 capitals shobha 15000 sudha 25000 rathna 30000



Ratna died on 30-6-2018 Ratna executive should be entitled to
* Ratna capital on the date of last balance sheet .
*Ratna share of reserve fund on the date of last balance sheet .
*Ratna share of profit up to the date of death on the basis of previous year profit .previous your profit is rupees 20,000 .
*Ratna share of goodwill .Goodwill of the firm is valued at rupees 40,000 .
*Interest on capital at 10% per annum.
you are required to ascertain amount payable executors of Ratna by preparing rathna's
capital account.​

Answer 1

Answer:

hi, thanks for asking the ques

Explanation:

Shobha, Sudha and Rathna are partners. Sharing profits and losses in the ratio of 2:2:1.

Their Balance sheet as on 31.3.2018 was as follows:

Balance Sheet as on 31.3.2018

Liabilities

Rs. Assets Rs.

Sundry Creditors

30,000 Cash in hand 10,000

Capitals:

Shobha

Sudha

Rathna

15,000

25,000

30,000

70,000

Debtors 25,000

Reserve fund 15,000 Stock 40,000

Plant and Machinery 40,000

1,15,000 1,15,000

Rathna died on 30.06.2018. Her executor's should be entitled to:

a) Her capital on the date of last Balance sheet.

b) Her share of reserve fund on the date of last Balance sheet

c) Her share of profit up to the date of death, on the basis of previous year's profit. Previous year profit is Rs.20,000.

d) Her share of goodwill. Goodwill of the firm is valued at Rs.40,000

e) Interest on capital at 10% p.a.

You are required to ascertain amount payable executors of Rathna by preparing Rathna's capital account.

hope this is helpful

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