A, B and C were partners in a firm. A died on 31.3.2018 and the Balance Sheet of the firm on that date was as under :
Balance Sheet of A, B and C as at 31.3.2018
Cash at Bank
Workmen Compensation Fund
Profit & Loss Account
On A’s death it was found that patents were valueless, furniture was to be brought down to Rs. 24,000, plant was to be reduced by Rs. 10,000 and there was a liability of Rs. 7,000 on account of workmen’s compensation.
Pass the necessary journal entries for the above at the time of A’s death.