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On the death of a partner, the total of all items due to him—such as his capital account, share of goodwill, share of profit and other adjustments—is ₹1,60,000. What amount will be payable to the deceased partner?

Answer and explanation

Correct answer: ₹1,60,000

The amount payable to a deceased partner equals the aggregate of all amounts due to him, including capital, share of goodwill, share of profit and other adjustments. Therefore, when the total of all due items is ₹1,60,000, the amount payable is ₹1,60,000. Exam tip: do not add or deduct any item again after the total has already been determined.

Related tags

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

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