Answer:
JOURNAL
Working Notes 1. Gaining Ratio = New Share - Old Share X \[=\frac{3}{4}-\frac{3}{6}=\frac{9-6}{12}=\frac{3}{12};\] Z \[=\frac{1}{4}-\frac{1}{6}=\frac{3-2}{12}=\frac{1}{12}\] Gaining Ratio = 3 : 1 2. Calculation of Goodwill \[60,000\times \frac{2}{6}\]= Rs. 20,000; to be shared by X and Z in their gaining ratio i.e 3 : 1 X will Share \[=20,000\times \frac{3}{4}=Rs.\,15,000\] Z will Share \[=20,000\times \frac{1}{4}=Rs.\,5,000\] 3. Calculation of Y's Share in Profit \[1,50,000\times \frac{2}{6}\times \frac{73}{365}=Rs.\,10,000\] Value being shown is women empowerment and empathy. Date Particulars LF Amt (Dr) Amt (Cr) X's Capital A/c Dr 15,000 Z's Capital A/c Dr 5,000 To Y's Capital A/c 20,000 (Being the goodwill adjusted) Profit and Loss Suspense A/c Dr 10,000 To Y's Capital A/c 10,000 (Being Y's share of profit till the date of death transferred to his capital account) Y's Capital A/c Dr 30,000 To Y's Executors A/c 30,000 (Being amount due to Y transferred to his executor's account)
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