Iqbal and Kapoor are in partnership sharing profits and losses in 3 : 2. Kapoor **** three months after the date of the last Balance Sheet. According to the Partnership Deed, the legal personal representatives of Kapoor are entitled to the following payments:
(a) His capital as per the last Balance Sheet.
(b) Interest on above capital @ 3% p.a. till the date of *****.
(c) His share of profits till the date of calculated on the basis of last year’ profits. His drawings are to bear interest at an average rate of 2% on the amount irrespective of the **. The net profits for the last three years, after charging insurance premium, were Rs. 20,000; Rs. 25,000 and Rs .30,000 respectively. Kapoor’ capital as per Balance Sheet was Rs. 40,000 and his drawings till the date of *** were Rs. 5,000. Draw Kapoor’ Capital Account to be rendered to his representatives.
