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On the death of a partner, his capital is ₹64000 and his share of accumulated profits is ₹36000. Assuming there are no other adjustments, what will be the deceased partner’s total claim?

Answer and explanation

Correct answer: ₹100000

The deceased partner’s total claim includes his capital and his share of accumulated profits. Therefore, total claim = ₹64000 + ₹36000 = ₹100000. The other amounts result from an incorrect addition. In an examination, remember to include interest, profit or loss, drawings, and other adjustments if they are specifically given.

Related tags

Deceased Partner SharePartner RetirementPartnership AccountsAccumulated ProfitsCapital AccountDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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