Viral, Kamal and Nirmal were partners sharing profit & losses in the ratio of 3: 2: 1. Viral died on 30' ' September, 2020. The partnership deed…

Calculation of Vimal’s share of Profit Average profits = (₹ $\displaystyle 70,000$ + ₹$\displaystyle 80,000$ - ₹$\displaystyle 60,000$) / $\displaystyle 3$ = ₹ $\displaystyle 90,000$/$\displaystyle 3$ = ₹$\displaystyle 30,000$ Profit for $\displaystyle 6$ months= ₹ $\displaystyle 30,000$ / $\displaystyle 2$ = ₹ $\displaystyle 15,000$ $\displaystyle 3$ Vimal’s share =₹ $\displaystyle 15,000$ × = ₹ $\displaystyle 7,500$ $\displaystyle 6$ Journal Date Particulars L.F. Debit Credit Amount Amount (₹) (₹) P & L Suspense A/c Dr. $\displaystyle 7,500$ To Vimal’s Capital A/c $\displaystyle 7,500$ (Vimal’s share of estimated profits till date of his death credited to his capital account)