Trisha, Anisha and Rishika were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2022 was as follows:


Balance Sheet of Trisha, Anisha and Rishika as at 31st March, 2022

Liabilities Amount
Assets Amount
Capitals: Plant and Machinery 5,00,000
Trisha 3,00,000 Stock 1,00,000
Anisha 2,00,000 Debtors 60,000
Rishika 1,00,000 6,00,000 Cash at Bank 40,000
General Reserve 50,000
Creditors 50,000
7,00,000 7,00,000

Trisha died on 31st July, 2022. According to the partnership deed, the executors of the deceased partner were entitled to:

  • Balance in partners’ Capital Accounts
  • Salary @ ₹15,000 per quarter.
  • Share of goodwill calculated on the basis of twice the average of past three years’ profits
  • Share of profits from the closure of the last accounting year till the date of death on the basis of last year’s profit. Profit for 2019-20, 2020-21 and 2021-22 were ₹1,00,000, ₹2,00,000 and ₹1,50,000 respectively.
  • Trisha withdrew ₹20,000 on 1st May, 2022 for her personal use.


Showing your working clearly, prepare Trisha’s Capital Account to be rendered to her executors.

Marks-6, CBSE:2022-23/Zone-3/Set-1/Q-25

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