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At the time of reconstitution, the total amount payable to the deceased partner is ₹70,000. If ₹10,000 has already been paid, how much amount is still payable to the executor?

Answer and explanation

Correct answer: ₹60,000

Balance payable = Total amount payable − Amount already paid = ₹70,000 − ₹10,000 = ₹60,000. Therefore, ₹60,000 is still payable to the deceased partner’s executor. Exam tip: subtract the amount already paid from the total amount due; ₹65,000 would result from subtracting only ₹5,000.

Related tags

Deceased Partner ShareExecutor AccountRetirement Of PartnerPartnership AccountingAmount PayableDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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