Viral, Kamal and Nirmal were partners sharing profit & losses in the ratio of $\displaystyle 3$ : $\displaystyle 2$ : 1. Viral died on $\displaystyle 30$'*' September, 2020. The partnership deed provides that the share of profit of the deceased partner till the date of his death was to be calculated on the basis of the average profits of the last three years. The profit for the last three years were : $\displaystyle 201718$ ₹ $\displaystyle 70,000$; $\displaystyle 2018$-$\displaystyle 19$ ₹ $\displaystyle 80,000$; $\displaystyle 201920$ ? $\displaystyle (60,000)$. Calculate Vimal's share of profit till the date of his death and pass necessary journal entry for the same.

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)