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A deceased partner’s capital in the firm is ₹50,000, and their share of profit up to the date of death is ₹3,000. Considering only these two items, what amount will be credited to the partner’s account?

Answer and explanation

Correct answer: ₹53,000

The amount credited is found by adding the deceased partner’s capital and their share of profit up to the date of death: ₹50,000 + ₹3,000 = ₹53,000. Therefore, option C is correct. In an exam, add only the items provided unless other adjustments, such as goodwill or drawings, are specifically mentioned.

Related tags

AccountancyPartnership AccountsPartner RetirementPartner DeathDeceased Partner ShareProfit AdjustmentDeceased Partner’s ShareDeceased Partner S Share

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