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In a firm, a deceased partner’s capital is ₹84,000. A share of profit of ₹6,000 and a reserve fund of ₹10,000 are also due to the partner’s account. What will be the total amount of the deceased partner’s claim?

Answer and explanation

Correct answer: ₹1,00,000

The deceased partner’s total claim is calculated as capital plus the share of profit plus the share credited from the reserve fund. Therefore, ₹84,000 + ₹6,000 + ₹10,000 = ₹1,00,000. The reserve fund is credited to the partner’s account in the agreed profit-sharing ratio. In the examination, include goodwill or any other adjustment only when it is specifically given in the question.

Related tags

Deceased Partner SharePartner RetirementPartnership AccountsReserve FundClaim CalculationDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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