Question

Girija, Yatin and Zubin were partners sharing profits in the ratio 5 : 3 : 2. Zubin died on 1st August, 2023. Amount due to Zubin’s executor after all adjustments was ₹ 90,300. The executor was paid ₹ 10,300 in cash immediately and the balance in two equal annual instalments with interest @ 6% p.a. starting from 31st March, 2025. Accounts are closed on 31st March each year.

Prepare Zubin’s Executor’s Account till he is finally paid.

Answer 1

Dr.	Zubin’s Executor’s Account				Cr.
Date	Particulars	Amount (₹)	Date	Particulars	Amount (₹)
2023 Aug 1	To Cash/Bank A/c	10,300	2023 Aug 1	By Zubin’s Capital A/c	90,300
2024 Mar 31	To Balance c/d	83,200	2024 Mar 31	By Interest A/c (8 months)	3,200
	Total	93,500		Total	93,500
2025 Mar 31	To Bank A/c (1st Installment)	48,000	2024 Apr 1	By Balance b/d	83,200
2025 Mar 31	To Balance c/d	40,000	2025 Mar 31	By Interest A/c (12 months)	4,800
	Total	88,000		Total	88,000
2026 Mar 31	To Bank A/c (2nd Installment)	42,400	2025 Apr 1	By Balance b/d	40,000
			2026 Mar 31	By Interest A/c (12 months)	2,400
	Total	42,400		Total	42,400