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. A, B and C were partners in a firm sharing profits and losses in the ratio of 3:21. C died on 30th June, 2016. After all the necessary adjustments, his capital account showed a credit balance of 70,600. C's executor was paid 10,600 on 1st July, 2016 and the balance in three equal yearly instalments starting from 30th June, 2017 with interest @10% p.a. on the unpaid amount. The firm closes its books on 31st March every year. (C.B.S.E. 2019, Comptt.) Prepare C's Executor's Account till the amount is finally paid.

Posted by Vishnu Prajapati 9 months, 2 weeks ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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