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The total claim in a deceased partner’s account is ₹168000. If a loss share of ₹18000 is to be adjusted against it, what will be the net claim?

Answer and explanation

Correct answer: ₹150000

The loss share is deducted from the total claim because it reduces the amount payable to the deceased partner’s account. Therefore, net claim = ₹168000 − ₹18000 = ₹150000. An amount such as ₹155000 results from an incorrect subtraction. In the exam, remember that adjustment of a loss reduces, rather than increases, the claim.

Related tags

Deceased Partner ShareRetirement Or Death Of A PartnerAccountancy Class 12Loss AdjustmentNet ClaimDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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