The Balance Sheet of A, B and C who were sharing profits in the ratio of 3 : 3 : 4 as at 31st March, 2019 was as follows :
Balance Sheet of A, B and C as at 31st March, 2019
|Liabilities||Amount ₹||Assets||Amount ₹|
|Loan from Bank||30,000||Investments||70,000|
|Capitals :||Land and Buildings||1,58,000|
A died on 1st October, 2019. The partnership deed provided for the following on the death of a partner:
(i) Goodwill of the firm be valued at two years’ purchase of average profits for the last three years.
(ii) The profit for the year ending 31st March, 2019 was ₹50,000.
(iii) Interest on capital was to be provided @ 6% p.a.
(iv) The average profits of the last three years were ₹35,000.
Prepare A’s Capital Account to be rendered to his executors.