\( X, Y \) and \( Z \) were partners sharing profits in the ratio of \( 6: 4: 2 \). The firm closes its books on 31 March every year. \( Y \) died on 30th June, 2020. Goodwill of the firm was valued at Rs \( 6,00,000 \). Y's share in profit and loss till the date of death was to be calculated on the basis of previous year's profit which was Rs 30,00,000 (Loss) Pass necessary journal entries for his share of goodwill and his share of loss.

Question

X, Y and  Z  were partners sharing profits in the ratio of  ( 6: 4: 2 ). The firm closes its books on 31 March every year.  Y died on 30th June, 2020. Goodwill of the firm was valued at Rs 6,00,000. Y's share in profit and loss till the date of death was to be calculated on the basis of previous year's profit which was Rs 30,00,000 (Loss) Pass necessary journal entries for his share of goodwill and his share of loss.