19 :- A, B and C were partners sharing profits and losses in the ratio of 2:2:1. C died on 30th June, 2025. Profit and sales for the year ended 31st March, 2025 were Rs 1,00,000 and Rs 10,00,000 respectively. Sales during april to june 2025 were Rs 1,50,000.
You are required to calculate share of profit of C till the date of his death.
20 :- Ajay, Bhawna and Shreya were partners sharing profits in the ratio of 2:2:1. On 1st July, 2024, Shreya died. The books of accounts are closed on 31st March, every year. Sales for the year 2023-24 Rs 5,00,000 and that from 1st April to 30th June,2024 were Rs 1,40,000. Rate of profit during the past three years had been 10% on sales. Since Shreya’s legal representative was her only son, who is differently abled, it was decided that the profit for the purpose of setting Shreya’s account is to be calculated as 20% on sales.
Calculate Shreya’s share of profits till the date of her death and pass necessary journal entries for the same.
21 :- Raman, Param and Karan were partners sharing profits and losses in the ratio of 3:2:1. Param died on 31st December, 2024. Accounts of the firm are closed on 31st march every year. Sales for the year ended 31st March, 2024 was Rs 12,00,000 and sales for the nine months ended 31st December 2024 was Rs 6,00,000. loss for the year ended 31st March, 2024 was Rs 90,000.
Calculate deceased partner’s share of profit/losses from the beginning of the accounting year upto 31st December, 2024.
22 :- Akhil, Bikram and Charu were partners sharing profits and losses in the ratio of 3:2:1. Bikram died on 30th September, 2024. Loss from the beginning of the accounting year till the date of death was estimated at Rs 3,60,000. Akhil and Charu decided to share future profits in the ratio of 3:2 w.e.f 1st October, 2024.
Pass the necessary journal entry to record Bhuwan’s share of profits/loss upto the date of death.
23 :- Abha, Beena and Chanda were partners in a firm sharing profits and losses in the ratio of 5:3:2. Abha died on 1st July, 2025. The partnership deed provided that Abha’s executors are entitled to her share of profit till the date of death calculated on the basis of sales for the immediate previous year. Sales for the year ended 31st March, 2025 was Rs 12,00,000 and the profit for the same year was Rs 3,00,000. Sales shows a growth trend of 20% and percentage of profit earning remains the same.
Journalise the transaction along with working notes.
Question 1 to 5 (New Profit – Sharing Ratio and Gaining Ratio)
Question 6 to 8 (Deceased Partner’s Share of Goodwill)
Question 9 to 13 (Calculation of Profit Share of a Deceased Partner)
Question 14 to 18 (Calculation of Profit Share of a Deceased Partner)
Question 19 to 23 (Calculation of Profit Share of a Deceased Partner)
Question 24 (Deceased Partner’s Share of Goodwill and Profit)
Question 25 to 29 (Determination of Amount Payable to Executors of a Deceased Partner)
Question 30 to 33 (Determination of Amount Payable to Executors of a Deceased Partner)
Question 34 (Adjustment of Capital)
Question 35 (Section 37 of the Indian Partnership Act)