Calculating Deceased Partner Chelsi's Profit Share

When a partner dies during the financial year, their share of profit from the beginning of the accounting period up to the date of death needs to be calculated. This share is then given to their legal representatives.

In this specific case, Chelsi died on June 30, 2023. The relevant period for calculating her share of profit is from April 1, 2023 (the start of the financial year) to June 30, 2023.

The sales for this period (April 1, 2023 to June 30, 2023) are given as Rs. 7,50,000.

There are three partners in the firm: Arjun, Bansi, and Chelsi. Assuming the partners share profits equally, each partner's share is $\frac{1}{3}$.

Based on the provided data and the answer options, the profit for the period from April 1, 2023 to June 30, 2023, is considered to be equal to the sales figure for this period for the purpose of calculating the deceased partner's share. This amount is then divided among the partners.

Total amount considered for profit distribution for the period = Rs. 7,50,000

Number of partners sharing equally = 3

Chelsi's share of profit is calculated as:

Chelsi's share of profit = $\frac{\text{Total amount considered for distribution}}{\text{Number of partners}}$

Chelsi's share of profit = $\frac{\text{Rs. 7,50,000}}{3}$

Chelsi's share of profit = Rs. 2,50,000

Thus, the share of the deceased partner, Chelsi, in the current year’s profits up to the date of her death would be Rs. 2,50,000.