Avni, Charu and Rad ha were partners in a firm sharing profits and losses in the ratio of $\displaystyle 2$ : $\displaystyle 2$ : 1. The firm closes its books on 31st March every year. Avni died on 31st July, 2021. Her share of prost in the year of death was to be calculated on the basis of average profit of the last three years. The profits of last three years were : $\displaystyle 2018$-$\displaystyle 19$ ₹ $\displaystyle 30,000$ $\displaystyle 201920$ ₹ $\displaystyle 60,000$ $\displaystyle 2020$-$\displaystyle 21$ ₹ $\displaystyle 90,000$ Calculate Avni's share of profit in the year of her death and pass necessary journal entry for the same.

Calculation of Avni’s share of Profit Average profit = (₹$\displaystyle 30,000$ + ₹$\displaystyle 60,000$ + ₹$\displaystyle 90,000$) / $\displaystyle 3$ = ₹$\displaystyle 1,80,000$ / $\displaystyle 3$ = ₹$\displaystyle 60,000$ Profit for $\displaystyle 4$ months= ₹ $\displaystyle 60,000$ x $\displaystyle 4$/$\displaystyle 12$ = ₹ $\displaystyle 20,000$ Avni’s share of profit =₹ $\displaystyle 20,000$ x $\displaystyle 2$/$\displaystyle 5$ = ₹ $\displaystyle 8,000$ Journal Date Particulars L.F. Debit Credit (₹) (₹) P&L Suspense A/c Dr. $\displaystyle 8,000$ To Avni’s Capital A/c $\displaystyle 8,000$ (Avni’s share of profit till the date of her death credited to her account)