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 the death of a partner, his share in the profits of the firm in the year of his death will be
calculated on the basis of last year’s profit. The profit of the firm for the year ended 31-3- 2017 was Rs.2,00,000.
Q. Mohan’s  share of goodwill is

Option 1: Rs 15,000

Option 2: Rs 45,000

Option 3: Rs 60,000

Option 4: Rs 30,000

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 the death of a partner, his share in the profits of the firm in the year of his death will be calculated on the basis of last year’s profit. The profit of the firm for the year ended 31-3-2017 was Rs.2,00,000.
Q. Number of Days up to the date of death is 

Option 1: 146 days

Option 2: 132 days

Option 3: 73 days

Option 4: 85 days

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. Share of Profit -----

Option 1: Rs 2521

Option 2: Rs 2520

Option 3: Rs 2500

Option 4: Rs 1920

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. R’s share of Goodwill is 

Option 1: Rs 13,280

Option 2: Rs 13,140

Option 3: Rs 13,000

Option 4: None of the above

Question : L, M and R were partners sharing profits in the ratio of 2 : 2 : 1. The firm closes its books on March 31 every year. On June 30, 2017, R died. The following information is provided on R’s  death:

(i) Balance in his capital account in the beginning of the year was Rs.6,50,000.
(ii) He withdrew Rs.60,000 on May 15, 2017 for his personal use.
On the date of death of a partner the partnership deed provided for the following:
(a) Interest on capital @ 10 % per annum.
(b) Interest on drawings @ 12 % per annum.
(c) His share in the profit of the firm till the date of death, to be calculated on the basis of the rate of Net Profit on Sales of the previous year, which was 25 %. The Sales of the firm till June 30, 2017 were Rs.6,00,000.

Amount due to R’s Executor’s is

Option 1: Rs.93,530
 

Option 2: Rs.93,500

Option 3: Rs.90,000

Option 4: Rs.90,535