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On the death of a partner, the total of all amounts due to the deceased partner after adjustments for capital, reserves, goodwill and profit is ₹1,50,000. What amount will be payable to the deceased partner?

Answer and explanation

Correct answer: ₹1,50,000

The amount payable to a deceased partner equals the total of all items credited or otherwise adjusted in the partner’s account. Therefore, when the total amount due is ₹1,50,000, the amount payable is also ₹1,50,000. Exam tip: If the question gives the total amount due and mentions no deduction or further adjustment, use that total as the answer.

Related tags

Deceased Partner SharePartnership AccountsRetirement And DeathAmount DueAccountancy Class 12Deceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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