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Question:

Ashok, Babu, and Chetan were partners in a firm sharing profits in the ratio of 4:3:3. The firm closes its books on 31st March every year. On 31st December 2016, Ashok died. The partnership deed provided that on the death of a partner, his executors will be entitled to the following: (i) Balance in his capital account. On 1/4/2016, there was a balance of Rs. 90,000 in Ashok's Capital Account. (ii) Interest on capital @ 12%. (iii) Share of goodwill. (iv) Share in the profits of the firm up to the date of his death.

Solution:

Note: The provided question is incomplete. It mentions points (i), (ii), (iii), and (iv) regarding Ashok's entitlements upon his death, but it does not provide the necessary financial information (e.g., profit and loss details, goodwill calculation, etc.) to calculate the final amount due to Ashok's executors. A complete solution requires these missing details.

To illustrate how to solve this problem, let's assume some hypothetical values and complete the question. Replace these with actual values from the original (complete) problem statement.

Hypothetical Values:

  • Profit for the year 2016: Rs. 60,000
  • Goodwill of the firm: Rs. 180,000

Calculations:

  1. Interest on Capital:

    • Ashok's capital on 1/4/2016: Rs. 90,000
    • Interest rate: 12%
    • Interest for 9 months (April 1, 2016 to December 31, 2016): Rs. 90,000 * 0.12 * (9/12) = Rs. 8,100

  2. Share of Profit:

    • Ashok's profit sharing ratio: 4/10
    • Ashok's share of profit for 9 months (April 1, 2016 to December 31, 2016): Rs. 60,000 * (4/10) * (9/12) = Rs. 18,000

  3. Share of Goodwill:

    • Ashok's profit sharing ratio: 4/10
    • Ashok's share of goodwill: Rs. 180,000 * (4/10) = Rs. 72,000

  4. Total Amount Due to Ashok's Executors:

    • Balance in capital account: Rs. 90,000
    • Interest on capital: Rs. 8,100
    • Share of profit: Rs. 18,000
    • Share of goodwill: Rs. 72,000
    • Total: Rs. 90,000 + Rs. 8,100 + Rs. 18,000 + Rs. 72,000 = Rs. 188,100

Therefore, based on these hypothetical values, the total amount due to Ashok's executors is Rs. 188,100. This calculation will vary based on the actual values for profit, goodwill, and other relevant data not provided in the original, incomplete question.