Question : In the partnership agreement between R Sand T who were sharing profits in the ratio of 5 : 3 : 2, the goodwill was to be valued on the death of any partner on the basis of  such partner’s share of 2 year’s profits calculated on the average of 5 year’s profits Immediately preceding the year of death less 10%. The firm’s profits were 2014 Rs. 10,000; 2015 Rs.30,000; 2016 Rs.43,000 and in 2017 and 2018 losses of Rs.6,000 and Rs.4,000 respectively. The deceased partner’s share of profits for the period of his life-time in the year of death was to be based on the average of the profits of the previous 3 years plus 10%.
R died on 31st August, 2018. His Capital A/c showed a credit of Rs.50,000 on 1st April, 2018 and he had drawn Rs.4,000 since that date.
Q. Amount payable to R's legal representatives is

Option 1: Rs 61000

Option 2: Rs 61660

Option 3: Rs 61661

Option 4: None of the above

Question : In the partnership agreement between R Sand T who were sharing profits in the ratio of 5 : 3 : 2, the goodwill was to be valued on the death of any partner on the basis of  such partner’s share of 2 year’s profits calculated on the average of 5 year’s

Question : In the partnership agreement between R Sand T who were sharing profits in the ratio of 5 : 3 : 2, the goodwill was to be valued on the death of any partner on the basis of  such partner’s share of 2 year’s profits calculated on the average of 5 year’s

Question : P, R and S are in partnership sharing profits 4/8, 3/8 and 1/8 respectively. It is provided under the partnership deed that on the death of any partner his share of goodwill is to be valued at one-half of the net profits credited to his account during the last 4 completed

Question : Ram  Mohan and Anil were partners in a firm sharing profits in a 2:2:1 ratio.
The firm closes its books on 31st March every year. Mohan died on 24-8-2017. On Mohan’s death, the goodwill of the firm was valued at Rs.75,000. The partnership deed provided that on

Question :

R, M and P were partners in a firm. P died on 29th February, 2020. His share of profit from the closure of the last accounting year till the date of death was to be calculated on the basis of the average of three completed years of profits