Question no 3
Q.3
Regards
| Sonali's Capital A/c | |||||
| Date | Particulars | Amount (in Rs) | Date | Particulars | Amount (in Rs) |
| Cash | Bal B/d | 150,000 | |||
| Monika's Capital A/c | 160,000 | ||||
| Malash's Capital A/c | 80,000 | ||||
| Profit and Loss suspense A/c | 20,000 | ||||
| Sonali's Executors A/c | 474,500 | Reserve Fund | 60,000 | ||
| Interest on Capital (150,000 x 12% x 3/12) | 4,500 | ||||
| 474,500 | 474,500 | ||||
| Goodwill Adjustment | ||
| Average profit of Last 4 Years | 200,000 | |
| Goodwill @ 3years purchase | 600,000 | |
| Share of Sonali | (6,00,000 x 2/5) | 240,000 |
| Gaining Ratio | 2:1 | |
| Goodwill Adjustment for Sonali from Capital A/cs of : | ||
| Monika | (2,40,000 x 2/3) | 160,000 |
| Malash | (2,40,000 x 1/3) | 80,000 |
| Share of profit till death | ||
| Average profit of Last 4 Years | 200,000 | |
| Profit for 3 months | (2,00,000/12 x 3) | 50,000 |
| Share of Sonali | (50,000 x 2/5) | 20,000 |
Regards