Deceased Partner’s Share

The deceased partner’s claim equals capital plus his share of revaluation profit plus his share of the reserve fund. Therefore, ₹68,000 + ₹12,000 + ₹20,000 = ₹1,00,000. Hence, option C is correct. Option B understates the total by ₹5,000, while option D overstates it by ₹2,000. Exam tip: Add only the amounts attributable to the deceased partner, not the firm’s total balances.

A revaluation loss is deducted from the deceased partner’s claim. Therefore, net claim = ₹1,18,000 − ₹8,000 = ₹1,10,000. Hence, option C is correct. ₹1,08,000 would result from deducting ₹10,000, so it is incorrect. In an examination, remember that a loss is deducted, whereas a revaluation profit is added to the claim.

Interest accrued on the deceased partner’s capital up to the date of death is income due to that partner. Therefore, it is credited to the deceased partner’s Capital Account, increasing the amount payable to the deceased partner’s estate. Debiting the account would incorrectly reduce the partner’s claim. Exam tip: Items accruing up to the date of death, such as interest on capital and the share of profit, are credited to the deceased partner’s account.

The deceased partner’s total claim, based on the given information, equals the balance of the Capital Account plus his share of goodwill. Thus, ₹1,03,000 + ₹7,000 = ₹1,10,000. The other amounts result from an incorrect addition. Exam tip: Always verify whether the goodwill figure represents the deceased partner’s share or the firm’s total goodwill before calculating the claim.

Remaining amount payable = Total claim − Amount paid = ₹1,75,000 − ₹65,000 = ₹1,10,000. Therefore, option D is correct. Option B results from deducting ₹70,000 instead of the actual payment of ₹65,000. In the exam, subtract all payments already made from the deceased partner’s total claim.

The amount due to the deceased partner’s legal representative is calculated as capital plus the share of profit up to the date of death plus the share of goodwill. Thus, ₹82,000 + ₹8,000 + ₹10,000 = ₹1,00,000. ₹98,000 is incorrect because it excludes the goodwill amount. In the examination, add all amounts specifically payable to the deceased partner when calculating the final claim.

The deceased partner’s claim must be settled fairly and completely. The amount may include the Capital Account balance, the partner’s share of goodwill, accumulated profits or reserves, profit up to the date of death, and other agreed adjustments; drawings and liabilities are deducted. Therefore, paying only capital or only goodwill is incomplete. Exam tip: include every adjustment due up to the date of death before determining the final amount payable.

The accumulated loss is deducted from the deceased partner’s claim. Therefore, revised claim = ₹1,48,000 − ₹8,000 = ₹1,40,000. The amount ₹1,42,000 does not deduct the full accumulated loss. Exam tip: deduct losses from the claim and add gains to it.

A partner’s relationship with the firm ends upon death; therefore, the deceased partner has no right to profits earned after the date of death. The partner is entitled to a proportionate share of profit up to the date of death, while subsequent profits belong to the continuing or new partners. Lack of cash is not the reason. Exam tip: Calculate the deceased partner’s profit share only up to the date of death unless the agreement provides otherwise.

The deceased partner’s total claim is calculated by adding the partner’s capital and their share of the reserve fund: ₹74,000 + ₹26,000 = ₹1,00,000. Therefore, option C is correct. An amount such as ₹98,000 results from an incorrect addition. Exam tip: At the time of death, the deceased partner’s share of the reserve fund is credited to the partner’s capital account and included in the claim.

After adjustments for the deceased partner’s capital, share of profit, goodwill and other items, the amount payable to the partner becomes a financial obligation of the firm. Until payment, it is generally transferred to the deceased partner’s executor’s loan account and shown on the liabilities side. It is not an asset because the amount is receivable by the partner and payable by the firm. Exam tip: Read ‘amount due’ from the firm’s perspective—an amount to be paid is a liability.

Net claim = Total claim − Drawings = ₹1,62,000 − ₹22,000 = ₹1,40,000. Therefore, option C is correct. Option B results from an incorrect subtraction. In such questions, remember that drawings are deducted from the deceased partner’s total claim to determine the amount payable.

The amount payable to the deceased partner’s legal representative includes the credit balance of the capital account and the value of the partner’s share in goodwill. Therefore, total claim = ₹1,14,000 + ₹6,000 = ₹1,20,000. Since no other adjustment, such as profit, loss, reserves or drawings, is given, none is included. Exam tip: Add the deceased partner’s share of goodwill to the credit balance of the capital account when calculating the total claim.

Drawings are amounts already withdrawn by the partner from the firm for personal use. Therefore, they are deducted while determining the final amount payable to the deceased partner or the legal representative. Drawings are not profits, firm assets, or reserves. Exam tip: In the deceased partner’s claim, add amounts due to the partner and subtract amounts already received, such as drawings.

Net claim = Total claim − Revaluation loss − Drawings = ₹174000 − ₹14000 − ₹10000 = ₹150000. The revaluation loss reduces the partner’s capital balance, while drawings also reduce the amount payable. Therefore, option C is correct. In the examination, subtract every specified adjustment from the gross claim.

With the given information, the deceased partner’s total claim is the sum of capital and the partner’s share of goodwill: ₹87,000 + ₹13,000 = ₹1,00,000. Therefore, option C is correct. Option B is ₹2,000 short and option D is ₹2,000 excess. In an examination, remember to include the share of profit, reserves, or other adjustments if they are provided.

The deceased partner remains a partner up to the date of death, so his agreed share of the profit earned up to that date is calculated and credited to his Capital or Current Account. He is not entitled to profits earned after death. Exam tip: Allocate profit up to the date of death on a time or sales basis according to the partnership agreement.

Balance claim = Total claim − Amount already paid = ₹1,46,000 − ₹46,000 = ₹1,00,000. Therefore, ₹1,00,000 remains payable to the deceased partner’s executor. ₹98,000 results from an incorrect subtraction. In such questions, subtract the amount already paid from the total claim.

Profit or loss arising from revaluation is distributed among the partners in the old profit-sharing ratio applicable before the reconstitution. Therefore, the deceased partner is credited with his or her share in that old ratio up to the date of death. The new ratio applies only to the continuing partners after reconstitution, so option B is incorrect. Exam tip: For revaluation at retirement or death, use the old profit-sharing ratio unless the partnership agreement specifies otherwise.

The amount payable to the deceased partner’s legal representative equals the capital balance plus the partner’s share of profit and share in the reserve fund. Therefore, ₹66,000 + ₹14,000 + ₹20,000 = ₹1,00,000, so option C is correct. Exam tip: Add all credit items due to the deceased partner and adjust separately for any deductions such as drawings or liabilities.

When the total amount due to a deceased partner—such as capital, share of profit and goodwill—is not paid immediately, it is transferred to the deceased partner’s Executor’s Loan Account. The amount remains a liability payable by the firm. The Profit and Loss Adjustment Account is used for adjustments, while the Realisation Account is used in dissolution. Exam tip: remember that non-immediate payment to a deceased partner leads to the Executor’s Loan Account.

The total claim of the deceased partner is calculated as capital plus accumulated profits: ₹96,000 + ₹4,000 = ₹1,00,000. Accumulated profits are credited to the partner’s account, so option C is correct. In an examination, also include interest, drawings, revaluation profit or any other adjustment if specifically given.

When interest is payable under the partnership deed, interest accrued on capital up to the date of death is credited to the deceased partner’s capital account. It increases the amount payable to the deceased partner and therefore forms part of the claim. Debiting it would reduce the amount due and is incorrect. Exam tip: Include interest up to the date of death, along with the deceased partner’s share of profit and goodwill, while calculating the final claim.

Accumulated loss is deducted from the deceased partner’s total claim. Therefore, net claim = ₹1,68,000 − ₹18,000 = ₹1,50,000. Hence, option C is correct. Exam tip: accumulated losses reduce the amount payable to the deceased partner; they are not added to the claim.

The deceased partner’s total claim is calculated as the capital balance plus the share of goodwill and the share of the reserve fund. Therefore, ₹79,000 + ₹11,000 + ₹10,000 = ₹1,00,000, making option C correct. In an examination, remember to include profit, loss, interest or other adjustments if they are provided; no such additional item is given here.