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S,H and R are partners in a firm. Their Balance Sheet as on December 31st, 2005 is as follow: Assets R.O Liabilities R.O Plant and

S,H and R are partners in a firm. Their Balance Sheet as on December 31st, 2005 is as follow:

Assets

R.O

Liabilities

R.O

Plant and Machinery

Furniture and fittings

Debtors

Stock

Investment

40,000

5,000

30,000

21,000

24,000

Creditors

General reserve

Capitals:

S: 40,000

H: 30,000

R: 10,000

20,000

20,000

80,000

Total

120,000

Total

120,000

H died on 30th June ,2006. The partnership provides that the representative of the deceased partner shall be entitled to:

Balance of the capital account of the deceases partner

Interest on capital at 8% p.a. up to date of death.

His share of profits up to date of death on the average of last 3 years profit.

His share of any undistributed profits and losses as per last balance Sheet.

Profits for the last 3 years was R.O 30,000, R.O 40,000 and R.O 50,000.

Determine the amount payable to the legal representative of H.

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