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A deceased partner’s capital is ₹1,20,000 and their share of accumulated profits is ₹18,000. What total amount will be credited to the partner’s account?

Answer and explanation

Correct answer: ₹1,38,000

The deceased partner’s capital and their share of accumulated profits are added to determine the amount credited to the partner’s account. Thus, total amount = ₹1,20,000 + ₹18,000 = ₹1,38,000. The option ₹1,28,000 results from an incorrect addition. In the exam, identify each adjustment separately before calculating the final amount.

Related tags

AccountancyPartnershipReconstitutionDeceased PartnerAccumulated ProfitsCapital AccountDeceased Partner’s ShareDeceased Partner S Share

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