Sangeet, Anju and Shiva were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : $\displaystyle 4$ : 5. Sangeet died on 31st Jul , 2023. San it's share in the profits of the firm till the date of death was to be calculated on the basis of sales. Sales during the year $\displaystyle 2022$ $\displaystyle 23$ were ₹ $\displaystyle 40,00,000$ and sales from 1st April, $\displaystyle 2023$ to 31st July, $\displaystyle 2023$ were ₹ $\displaystyle 10,00$,000. The profit for the year ended 31st March, $\displaystyle 2023$ was ₹ $\displaystyle 4,00$,000. Calculate San it' s share of profit up to the date of death and pass the necessary journal entry for the same in the books of the firm. Show your workings clearly.

Sangeet’s share of profit = Last Year Profit x Sales in Current Year up to Death x Sangeet’s profit share Last Year Sales $\displaystyle 4,00,000$ x $\displaystyle 10,00,000$ x $\displaystyle 3$ $\displaystyle 40,00,000$ $\displaystyle 12$ ` $\displaystyle 25,000$ JOURNAL Date Particulars L.F. Dr. Cr. Amount Amount ( `) ( `) $\displaystyle 2023$ Profit and Loss Suspense A/c Dr. $\displaystyle 25,000$ Sept $\displaystyle 30$ To Sangeet’s Capital A/c $\displaystyle 25,000$ (share of profit credited to Sangeet’s capital)