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If a deceased partner’s capital is ₹70,000 and their share of profit is ₹3,000, what total amount will be credited to their account?

Answer and explanation

Correct answer: ₹73,000

The capital and the deceased partner’s share of profit are added: ₹70,000 + ₹3,000 = ₹73,000. Therefore, option B is correct. In such questions, remember that a profit share increases the amount payable to the partner; it is not deducted from the capital.

Related tags

Deceased Partner SharePartner CapitalShare Of ProfitRetirement Or DeathReconstitution Of PartnershipDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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