CBSE 2023 · Region 5 · Set 2 · Q22

A, B and C were partners in a printer manufacturing firm. They were sharing profits and losses in the ratio of $\displaystyle 2$ : $\displaystyle 2$ : 1. On $\displaystyle 31$" March, $\displaystyle 2022$ their Balance Sheet was as follows : Balance Sheet ofA, B and C as on 31st March, $\displaystyle 2022$ Liabilities Amount Assets Amount (Q) (z) Capitals : Land and Building $\displaystyle 3,00,000$ A - $\displaystyle 1,50,000$ Plant and Machinery $\displaystyle 2,50,000$ B $\displaystyle 2,00,000$ Debtors $\displaystyle 80,000$ C - $\displaystyle 2,00,000$ $\displaystyle 5,50,000$ Stock $\displaystyle 70,000$ General Reserve $\displaystyle 2,50,000$ Cash in hand $\displaystyle 60,000$ Creditors $\displaystyle 30,000$ Cash at Bank $\displaystyle 90,000$ Bills Payable $\displaystyle 20,000$ $\displaystyle 8,50,000$ $\displaystyle 8,50,000$ B died on 30th June, 2022. According to the partnership deed, his legal representatives are entitled to : (i) ₹ $\displaystyle 24,000$ for his share of Goodwill. (ii) Interest on capital @ l'2.% p.a. (iii) His share of profit till the date of death calculated on the basis of sales. The sales from 1st April, $\displaystyle 2022$ to $\displaystyle 30$*h June, $\displaystyle 2022$ were ₹ $\displaystyle 1,25$,000. The sales and profits of the firm for the year ending 31st March, $\displaystyle 2022$ were ₹ $\displaystyle 10,00,000$ and ₹ $\displaystyle 2,50,000$ respectively. Prepare B's Capital Account to be rendered to his legal representatives.