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Class 12AccountancyReconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareEasy
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If the total amount in the deceased partner’s account is ₹85,000 and a profit share of ₹5,000 is added to it, what will be the new total amount?

Answer and explanation

Correct answer: ₹90,000

New total amount = initial total amount + profit share = ₹85,000 + ₹5,000 = ₹90,000. Therefore, option B is correct. In such calculations, carefully check the operation and the number of zeros before selecting the answer.

Related tags

Deceased Partner SharePartnership AccountsProfit ShareBasic CalculationDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A PartnerAccountancy
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10 more MCQs
  1. 1A, B and C share profits in the ratio 5:3:2. C retires. What is C’s old profit-sharing share?
  2. 2The deceased partner's share is 4/15. The firm's goodwill is ₹2,25,000. How much will be credited for goodwill to the deceased partner's executor?
  3. 3Goodwill is valued at ₹252,000 and the deceased partner’s share is 5/18. How much goodwill will be credited to the deceased partner’s executor?
  4. 4Why is the deceased partner’s goodwill share credited to the Executor’s Account?
  5. 5In partnership accounting, what does the amount due to a deceased partner refer to?
  6. 6To whom is the deceased partner’s share usually paid?
  7. 7Which of the following items is included while calculating the amount due to a deceased partner?
  8. 8To whom is the deceased partner’s share of profit earned up to the date of death paid?
  9. 9Why is the deceased partner’s share calculated?
  10. 10If the deceased partner's Capital Account has a credit balance of ₹1,00,000 on the date of death, will it be included in the amount due to the deceased partner?
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