X, Y and Z were partners sharing profits and losses in the ratio of two-third, one-sixth and one-sixth, respectively. Balance sheet of the firm as on December 31, 2022 was as follow.

Assets:

Cash- 20,000

Debtors-30,000

Stock-30,000

Premises-60,000

X's Loan-10,000

TOTAL- 150,000

Liabilities:

Sundry Creditors -30,000

Capital: X- Rs.80,000, Y- Rs.20,000, Z -Rs.20,000

TOTAL- 150,000

X died on January 1, 2023. Firm had taken joint policy of Rs.60,000. The policy amount was realized on January 15, 2023. As per partnership deed goodwill was valued at 2 years' purchase of average profit of three completed years. Deceased partner was paid out his dues on February 1, 2023, available cash balance being supplemented by a loan from the firm's bankers. Profits for the preceding three years were Rs.40,000, Rs.40,000, and Rs.46,000, respectively.

Instructions:

Show the ledger accounts of the partners and the balance sheet of Y and Z as it would stand after the death of X.

Note: (You may ignore the amount of interest, if any). Provide all calculated values for Y and Zs new capital in balance sheet

Q. 4X,Y and Z were partners sharing profits and losses in the ratio of two-third, one-sixth and one-sixth, respectively. Balance sheet of the firm as on December 31,2022 was as follow. X died on January 1, 2023. Firm had taken joint policy of Rs.60,000. The policy amount was realized on January 15, 2023. As per partnership deed goodwill was valued at 2 years' purchase of average profit of three completed years. Deceased partner was paid out his dues on February 1,2023, available cash balance being supplemented by a loan from the firm's bankers. Profits for the preceding three years were Rs.40,000, Rs. 40,000 , and Rs. 46,000 , respectively. Instructions: Show the ledger accounts of the partners and the balance sheet of Y and Z as it would stand after the death of X. (You may ignore the amount of interest, if any)