A, B and C are partners sharing profits and losses in the proportion of 3 : 2 : 1 and their Balance Sheet on 31st December, 2017 stood as under :B died on 28th February 2018 and according to the deed of partnership, his executors are entitled to be paid as under:

(i) The capital to his credit at the time of his death and interest upon the time of his death at 6% p.a.

(ii) His proportionate share of Reserve.

(iii) His share of profit for the period based on the figure of the previous year.

(iv) Goodwill according to his share of profits to be calculated by taking twice the amount of the average profits of the last three years. The profits of the previous years were : 2015 : ₹7,800; 2016 : ₹9,000; and 2017 : ₹9,600. The investments were sold for ₹16,200 and his executors were paid out. Pass the necessary Journal Entries and write the account of the executors of B.

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Bills Payable Creditors Reserve Capitals: ABC Liabilities 10,000 6,000 4,000 ₹ 7,560 Cash in hand 12,300 Bank 3,000 Debtors Bills Receivable Stock Investment 20,000 Buildings 42,860 Assets ₹ 250 960 7,450 3,300 12,470 10,430 8,000 42,860