Iqbal and kamal are in partnership sharing profits and losses in 3 : 2. Kamal died three months after the date of the last Balance Sheet.

Iqbal and kamal are in partnership sharing profits and losses in 3 : 2. Kamal died three months after the date of the last Balance Sheet. According to the Partnership Deed, his legal heir is entitled to the following:

(a) His capital as per the last Balance Sheet.

(b) Interest on above capital @ 3% p.a. till the date of death.

(c) His share of profit till the date of death calculated on the basis of last year’s profits.