12. Sunil, Mohan and Niti decided to dissolve their partnership on March \( 31,2021 . \) Their profit sharing ratio 5 was \( 3: 2: 1 \) and their Balance Sheet was as under:
Balance Sheet of Sunil, Mohan and Niti as on March 31, 2021
The stock of value of \( ₹ 41,660 \) are taken over by Sunil for \( ₹ 35,000 \) and he agreed to discharge bank loan. The remaining stock was sold at \( ₹ 14,000 \) and debtors amounting to \( ₹ 10,000 \) realised \( ₹ 8,000 \). land is sold for \( ₹ 1,10,000 \). The remaining debtors realised \( 50 \% \) at their book value. Cost of Realisation amounted to ₹ 1,200 . There was a typewriter not recorded in the books worth \( ₹ 6,000 \) which were taken over by one of the Creditors at this value. Prepare Realisation Account.
Hemant, Gargi and Namit are partners sharing profits and losses in the ratio of \( 3: 2: 1 \). On March 31,2021 Namit died. The various assets and liabilities of the firm on the date were as follows:
Cash ₹ 10,000 , Building ₹ \( 1,00,000 \), Plant and Machinery ₹ 40,000 , Stock ₹ 20,000 , Debtors ₹ 20,000 and Investments \( ₹ 30,000 \).
The following was agreed upon between the partners on Namit's death:
(i) Building to be appreciated by \( 20 \% \).
(ii) Plant and Machinery to be depreciated by \( 10 \% \).
(iii) Share of profit to be given on the basis of the average of the past three years profit plus \( 10 \% \). The profits for the last three years ₹ 50,000 ; ₹ 60,000 and ₹ 40,000 .
(iv) Goodwill of the firm is valued at ₹ 30,000 .
Prepare deceased partner's capital account assuming that books are closed on \( 31^{\text {st }} \) December every year.
