Farhan, Hina and Dolly are partners in a firm sharing profits in the ratio of 5 : 3 : 2. On 1st April, 2016 the capitals of the partners were : Rs. 5,00,000; Rs. 3,00,000 and Rs. 2,00,000 respectively. The firm closes its books on 31st March every year. Dolly died on 5th April, 2016.
On that date:
(a) Goodwill of the firm was valued at Rs. 30,000; and
(b) Dolly’s share of profit till the date of her death was calculated as Rs. 200.
Prepare Dolly’s Capital A/c to be rendered to her executors.
Marks-3, CBSE:2016-17/Comp-AI/Q-10