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Assuming there are no other adjustments, if the deceased partner’s capital is ₹88,000 and accumulated profits are ₹12,000, what will be the amount of the deceased partner’s total claim?

Answer and explanation

Correct answer: ₹1,00,000

The deceased partner’s claim includes the partner’s capital plus the share of accumulated profits due to the partner. Therefore, total claim = ₹88,000 + ₹12,000 = ₹1,00,000, so option C is correct. Option B understates the addition by ₹2,000, while option D overstates it by ₹2,000. Exam tip: Add all amounts due up to the date of death to capital and deduct liabilities or losses if they are given.

Related tags

Deceased Partner ClaimRetirement And DeathReconstitution Of PartnershipAccumulated ProfitsPartnership AccountsDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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