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X,Y and Z are partners sharing profits and losses in the ratio of 2:2:1. Their capital balances on 01.04.2017 stood at rs 90000, rs 60000 and rs 40000 respectively. Mr. Y died on 01.01.2018 partnership deed provides the following: a. Interest on capital at 10% p.a. b. Salary to Y, rs 2000 per month. c.Y's share of goodwill d. His share of profit up to the date of death on the basis of previous year's profit. i. Total good will of the firm rs 54000 ii. Profit of the firm for the year 2016-2017 is rs 30000 You are required to ascertain the amount payable to executors of Y by preparing executor's account. |
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Answer» ratio of 2:2:1. Their CAPITAL balances on 01.04.2017 STOOD at rs 90000, rs 60000 and rs 40000Hope this helps ❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️ |
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