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The total amount payable to a deceased partner is ₹1,40,000. If ₹40,000 has already been paid, how much amount is still payable?

Answer and explanation

Correct answer: ₹1,00,000

Remaining amount payable = Total amount payable − Amount already paid = ₹1,40,000 − ₹40,000 = ₹1,00,000. Therefore, option B is correct. An answer such as ₹1,20,000 results from not subtracting the paid amount correctly. In the examination, subtract the amount already paid from the total amount due to find the balance.

Related tags

Deceased Partner ShareRetirement Of PartnerAmount PayableAccounting CalculationsDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A PartnerAccountancy

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