Hetiren 3.207 J.E. Date 14.2009 CASH ACCOUNT Rs. Date 10.000 30.6.2009 31.3.2010 10,000 Particulars CE To Balance b/d Particulars J.F. Rs. By Q's Executor Ad 5,000 To Balance cld 5.000 10.000 To Balance b/d 5,000 ILLUSTRATION 37 (Death of a Partner) M, B and A were partners sharing profits in the ratio 2:2: 1 Their Balance Sheet as at 31.3.2010 was as under: BALANCE SHEET as at 31.3.2010 Liabilities Rs. Assets Rs. General Reserve 28.000 Cash M's Capital 30,000 Debtors 7.500 B's Capital 20.000 Stock 28.500 A's Capital 10,000 Land & Building 45500 Creditors 25,000 Motor Vehicle 15.000 Bills Payable 30.000 17,000 Goodwill 1,30,000 1.30.000 K22 firm B died on 15 June, 2010. According to the deed, his legal representatives were entitled to: (a) Balance in Capital Alc (b) Share of goodwill valued on the basis of thrice the average profits for the past four completed years. It was decided not to show goodwill in the books of the reconstituted le) Share in profits upto the date of death on the basis of average profits for the past four completed years. (d) Interest on capital @ 18% p.a. Profits for the years 2006-07, 2007-08, 2008-09 and 2009-10 respectively were Rs.50.000. Rs.58,000, Rs.40.000, Rs.52,000 respectively. The firm had taken a motor vehicle but it was not recorded in the books till date. It was now estimate at Rs. 1.20,000. Calculate the amount payable to B's representatives