Lisa, Monika and Nisha are partners in a firm sharing profits and losses in the ratio of 2: 2: 1. Their capital A/c stoo…
Q1
Lisa, Monika and Nisha are partners in a firm sharing profits and losses in the ratio of 2: 2: 1. Their capital A/c stood as ₹50,000 , ₹50,000 and ₹25,000 respectively. Monika died and balance in the reserve on that date was ₹15,000 . If goodwill of the firm is ₹30,000 and profit on revaluation is ₹7,050. What amount will be transferred to Monika's Executor's Account?
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