Aaria, Beenu and Clara were partners in a firm sharing profits and losses in the ratio of 4:3:3. On 30th June, 2023, Clara died. Clara’s share in the profits of the firm till the date of death was to be calculated on the basis of sales. Sales during the year 2022-23 were Rs. 20,00,000 and sales from 1st April, 2023 to 30th June, 2023 were Rs. 4,00,000. The profit for the year ended 31st March, 2023 was Rs. 5,00,000. 

Calculate Clara’s share of profit up to the date of death and pass the necessary journal entry for the same in the books of the firm. Show your workings clearly.

Marks-3, CBSE: 2023-24/Zone-3/Set-1/Q-17