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If a deceased partner’s capital is ₹1,10,000, accumulated profits are ₹15,000, and drawings are ₹5,000, what will be the deceased partner’s net claim, excluding other adjustments?

Answer and explanation

Correct answer: ₹1,20,000

The deceased partner’s net claim is calculated as capital + accumulated profits − drawings. Thus, ₹1,10,000 + ₹15,000 − ₹5,000 = ₹1,20,000. Accumulated profits increase the amount payable, whereas drawings reduce it. In the examination, add all credit items first and then subtract drawings and other deductions.

Related tags

Deceased Partner ShareRetirement And Death Of PartnerPartnership AccountsNet ClaimAccountancy Class 12Deceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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