Monika's share = 2/5.
Capital = 50,000
Share of Reserve = 15,000 x 2/5 = 6,000
Share of Goodwill = 30,000 x 2/5 = 12,000
Share of Revaluation Profit = 7,050 x 2/5 = 2,820
Total transferred to Executors A/c = 50,000 + 6,000 + 12,000 + 2,820 = 70,820.
Lisa, Monika and Nisha are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their capital A/c stood as Rs. 50,000, Rs. 50,000 and Rs. 25,000 respectively. Monika died and balance in the reserve on that date was Rs. 15,000. If goodwill of the firm is Rs. 30,000 and profit on revaluation is Rs. 7,050. What amount will be transferred to Monika's Executors Account ?
Held on 28 May 2023 · Verified 13 Jul 2026.
Rs. 50,820
Rs. 70,820
Rs. 8,820
Rs. 60,820
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