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If a deceased partner’s capital is ₹94,000 and the goodwill attributable to the partner is ₹16,000, what will be the partner’s total claim, assuming there are no other adjustments?

Answer and explanation

Correct answer: ₹1,10,000

The deceased partner’s total claim is calculated as the amount in the capital account plus the partner’s share of goodwill. Thus, ₹94,000 + ₹16,000 = ₹1,10,000. Amounts such as ₹1,08,000 or ₹1,12,000 result from an arithmetic error. In an examination, first check whether any other items, such as a share of profit or outstanding salary, also need to be added.

Related tags

Deceased Partner SharePartnership ReconstitutionGoodwill AdjustmentPartner ClaimAccountancy Class 12Deceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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