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A total of ₹90,000 is payable to a retiring or deceased partner. If ₹30,000 has already been paid, how much amount is still payable to the partner?

Answer and explanation

Correct answer: ₹60,000

Amount still payable = Total amount payable − Amount already paid = ₹90,000 − ₹30,000 = ₹60,000. Therefore, option B is correct. ₹70,000 results from an incorrect subtraction. In the exam, subtract the amount already paid from the total amount due to find the balance payable.

Related tags

Deceased Partner SharePartner RetirementAmount PayableBalance CalculationPartnership AccountsDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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