Aman, Naman and Raman were partners in a firm sharing profits and losses in the ratio 2:2:1. On 31st March 2020 their Balance sheet was as follows: Liabilities Amount Assets Amount Capital Aman - 8,00,000 Naman -7,00,000 Raman- 5,00,000 Workmen compensation Reserve General Reserve Employee Provident fund Creditors 20,00,000 50,000 2,00,000 1,00,000 5,00,000 Fixed Assets Stock Debtors Cash at bank Advt. Suspense A/c(Deferred Revenue) 14,00,000 4,00,000 3,00,000 7,00,000 50,000 28,50,000 28,50,000 Naman died on 30th June 2020 according to the partnership deed is legal hiers were entitled to: (a) balance in his capital account (b) his capital first share of goodwill will be calculated on the basis of thrice of the average profit of past four year profit (c) his share of profit up to the date of death on the basis of advocate of last 2 years (d) interest on capital 12% per annum up to the date of death. The firm profit for the last four year ended 31st March were: 2017 Rs 2,40,000 , 2018 Rs 4,00,000 , 2019 Rs 5,20,000 , 2020 Rs 4,40,000. Naman Executors was paid the sum due immediately. Prepare Naman Capital Account to be presented to his legal heirs
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