C, F and S were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 4$ : 1. F died on 30th June, 2021. The firm earned a net profit of ₹ $\displaystyle 3,00,000$ for the year ended 31.3.2021. The deceased partners share in the year of his death was to be calculated on the basis of sales. The sales for the year ended $\displaystyle 31.3.2021$ were ₹ $\displaystyle 24,00,000$ whereas the sales from Is! April, $\displaystyle 2021$ to 30th June, $\displaystyle 2021$ were ₹ $\displaystyle 4,00$,000. Calculate F's share in the profits till the date of his death and pass necessary journal entry for the same.

$\displaystyle 3,00,000$ Firm’s profit till 30th June, $\displaystyle 2021$ =  $\displaystyle 4,00,000$ $\displaystyle 24,00,000$ = ₹ $\displaystyle 50,000$ $\displaystyle 4$ F’s share in the profit =  $\displaystyle 50,000$ = $\displaystyle 20,000$ $\displaystyle 10$ $\displaystyle 5$ Journal Date L.F Debit Credit Particulars Amount Amount (₹) (₹) $\displaystyle 2021$ Profit and Loss Suspense A/c Dr. $\displaystyle 20,000$ June To F ’s Capital A/c $\displaystyle 20,000$ $\displaystyle 30$ (F’s share in the profits transferred to his Capital Account at the time of his death)