Anil, Sunil and Rahul are the partners sharing profits and losses in the ratio of 3:2:1.Their capitals as on 1-4-2014 were Rs. 70,000, Rs. 90,000 and Rs. 60,000 respectively. Anil died on 31-12-2014 and the partnership deed provided the following:
(a) Interest on Anil’s capital at 8% p.a.
(b) Anil’s salary Rs. 2,000 p.m.
(c) His share of accrued profit upto the date of death based on previous year’s profit. Firm’s profit for 2013-2014 was Rs 24,000.
(d) His share of Good will was Rs. 12,000 Ascertain the amount payable to Anil’s executor by preparing Anil’s Capital A/c. Ans. Anil’s Capital A/c
