Question : P, A and L are partners in a firm sharing profits and losses in the ratio of 3:2:1 respectively. Angad died and his claim, including Capital and entitlements from the firm including his share of Goodwill of the firm, is Rs. 50,000. After this amount was determined, it was found that there was an unrecorded piece of furniture valued at Rs. 12,000 which had to be recorded. Upon recording this piece of furniture, the revised amount due to A’s executor was determined and settled by giving him this piece of furniture and the balance in cash.
Q. Cash paid to A’s executors account is 

Option 1: Rs 42,000

Option 2: Rs 40,000

Option 3: Rs 54,000

Option 4: None of the above

Question :

A, B and C are partners in a firm sharing profits and losses in the ratio 3:2:1. B retired and his claim included capital and other entitlements from the firm including his share of goodwill of the firm's Rs 60,000 After this amount was determined, it was found that there was an unrecorded asset valued at Rs 24,000 which had to be recorded. After recording these unrecorded assets, determine the revised amount payable to B:

Option 1: Rs 60,000

Option 2: Rs 52,000

Option 3: Rs 68,000

Option 4: None of the above

Question : A, B  and C  were partners in a firm sharing profits in the ratio of 1:2:1. The firm closes its books on 31st March every year. On 30th September 2015, B died. On that date, his capital account showed a debit balance of Rs.5,000. There was a debit balance of Rs. 30,000 in the Profit and Loss Account. The goodwill of the firm was valued at Rs.3,80,000. B’s share of profit in the year of his death was to be calculated on the basis of an average profit of 5 years, which was Rs.90,000.
Amount due to B’s Executor account will be -----

Option 1: Rs 1,82,500

Option 2: Rs 1,92,500

Option 3: Rs 1,75,000

Option 4: None of the above

Question : A, B and C  were partners in a firm sharing profits in the ratio of 2:2:1.

The firm closes its books on 31st March, every year. On 31-12-2015 C died. On that date, his Capital account showed a credit balance of Rs.3,80,000 and Goodwill of the firm was valued at Rs. 1,20,000. There was a debit balance of Rs.50,000 in the Profit & Loss A/c.

C’s share of profit in the year of his death was to be calculated on the basis of the average profit of the last five years. The average profit for the last five years was Rs.75,000.
Q. Amount due to C  transferred to his executors’ account will be -----------

Option 1: 4,00,000

Option 2: RS 4,05,250

Option 3: Rs 4,05,000

Option 4: None of the above

Question : A, B and C are partners in a firm sharing profits in the ratio of 5 : 3 : 2. On 1st April, 2016 the capitals of the partners were: Rs.5,00,000; Rs.3,00,000 and Rs.2,00,000 respectively. The firm closes its books on 31st March every year. C dies on 5th April, 2016.

On that date :
(a) Goodwill of the firm was valued at Rs.30,000; and
(b) Gain on Revaluation was calculated at Rs. 8,000.
(c) Advertisement Suspense Account appearing in the books was Rs. 10,000.
(d) C’s share of profit till the date of his death was calculated as Rs.200.
Amount due to C’s Executors will be 

Option 1: Rs 2,05,800

Option 2: Rs 2,05,000

Option 3: Rs 2,50,000

Option 4: None of the above