Mr. Raj died on 25.08.2006 who was an active partner in a firm. The other partners were Mr. Das and Mrs. Das. The books of accounts reveal the following:
General Reserve |
Rs. 12,000 |
Capital - Raj |
Rs. 30,000 |
Profit and Loss A/c (Dr.) |
Rs. 18,000 |
Drawings of Raj |
Rs. 10,000 |
Mr. Raj's loan to the firm |
Rs. 20,000 |
Interest on loan payable to Raj up to the date of death Rs. 1,000
Value of goodwill estimated at Rs. 24,000
Calculate the amount due to the legal heirs of Mr. Raj.