9 :- Dinkar, Navita and Vaani were partners sharing profits and losses in the ratio of 3:2:1. Navita died on 30th June, 2024. Her share of profit for the intervening period was based on the sales during that period, which were Rs 6,00,000. The rate of profit during the past four years had been 10% on sales. The firm closes the books on 31st March every year.
Calculate Navita’s share of profit.
10 :- Juhi, Riya and Pari are partners sharing profits and losses in the ratio of 3:2:1. Riya died on 30th June,2024.For the year ended 31st March 2025, proportionate profit of 2024 is to be taken into consideration. During the year ended 31st March, 2025, bad debts of Rs 2,000 had to be adjusted. Profit for the year ended 31st March, 2024 was Rs 14,000 before adjustments of Bad debts.
Calculate Riya’s share of profit till the date of her death.
11 :- Anil, Sunil and Hari were partners sharing profits equally. Sunil died on 31st December, 2024. In terms of the partnership deed, accounts were prepared for the period ended 31st December, 2024, and Net profit was determined at Rs 6,00,000.
Pass the journal entry for the profit share of the partners.
12 :- A, B and C were partners in a firm sharing profits and losses in the ratio of 2:2:1. On 25th February 2019, B died. B’s share of profit till the death was calculated at Rs 5,000.
Pass the necessary journal entry for the same in the books of the firm.
13 :- Ram, Manu and Hari were partners in a firm. Hari died on 30th June, 2024. His share of profits from the closure of the last accounting year till the date of death was to be calculated on the basis of the average of three completed financial years of profits before death. Profits for the years ended 31st March 2022,2023 and 2024 were Rs 1,10,000; Rs 1,20,000 and Rs 1,30,000 respectively.
Calculate Hari’s share of profit till the date of his death and pass necessary Journal entry for the same.
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)