Update

Muft Shiksha™ एक 100% Free Education Portal है 🇮🇳, जिसका उद्देश्य Class 9–12 के हर विद्यार्थी तक High-Quality Education को पूरी तरह मुफ्त पहुँचाना है। 🇮🇳 हम मानते हैं कि अच्छी शिक्षा किसी student की आर्थिक स्थिति पर निर्भर नहीं होनी चाहिए। 🇮🇳 हर विद्यार्थी को वही Quality Study Material, MCQs, Quizzes, Exam Preparation, Concept-Based Learning और Bilingual Support मिलना चाहिए, जो आमतौर पर महंगी Coaching या Premium Platforms में मिलता है। Muft Shiksha™ 🇮🇳 इसी सोच के साथ बनाया गया है

Subjects
0 reads0 ratings0 helpful

Why is the deceased partner’s share of profit earned after the date of death not credited to the deceased partner’s capital account?

Answer and explanation

Correct answer: Because it is earned after death

A partner is entitled only to the profit earned during the period in which he or she was a partner. Therefore, the deceased partner’s estimated share of profit up to the date of death is credited to the capital account, whereas profit earned after death belongs to the continuing or new partners. Option B is incorrect because profit up to the date of death can be estimated using past profit, sales, or time basis. Exam tip: Adjust the deceased partner’s profit share only up to the date of death.

Related tags

AccountancyPartnership AccountsDeceased PartnerRetirement Or Death Of PartnerProfit ShareCapital AccountDeceased Partner’s ShareDeceased Partner S Share

Was this question useful?

No ratings yetWrite a review / Rate this question

Student Reviews

No published reviews yet.

Add Muft Shiksha to your Home Screen

In Safari, tap Share, then Add to Home Screen.