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Class 12 · Accountancy · Expert
→A partnership firm has an average annual profit of ₹8,40,000. For calculating the deceased partner’s share of profit, what amount of the firm’s estimated profit should be considered for the 5 months up to the date of death?
Class 12 · Accountancy · Expert
→To whom is the deceased partner’s share of profit earned up to the date of death ultimately paid?
Class 12 · Accountancy · Expert
→A partner dies 7 months after the beginning of the accounting year. If the firm’s estimated annual profit is ₹3,24,000 and profit is assumed to accrue evenly throughout the year, what is the time-apportioned profit up to the date of death?
Class 12 · Accountancy · Expert
→Under the fluctuating capital system, to which account is the deceased partner’s share of profit up to the date of death usually credited?
Class 12 · Accountancy · Expert
→A partner dies after completing 9 months of the accounting year. Based on an estimated annual profit of ₹9,60,000, what will be the estimated profit up to the date of death?
Class 12 · Accountancy · Expert
→For what period is the deceased partner generally entitled to claim a share of profit?
Class 12 · Accountancy · Expert
→If the average annual profit for the last 3 years is ₹6,00,000 and a partner dies 4 months after the beginning of the accounting year, what profit is estimated up to the date of death?
Class 12 · Accountancy · Hard
→On the date of a partner’s death, his Capital Account shows ₹75,000, his share of the Reserve Fund is ₹15,000, and his share of profit up to the date of death is ₹10,000. Assuming there are no other adjustments, what will be the total amount due to the deceased partner?
Class 12 · Accountancy · Hard
→On the death of a partner, the total amount due to the partner is ₹1,70,000, from which a loss share of ₹20,000 is to be deducted. What will be the net claim of the deceased partner?
Class 12 · Accountancy · Hard
→On the death of a partner, ₹91,000 stands to the credit of the partner’s Capital Account, ₹1,000 is debited for drawings, and ₹10,000 is to be credited for the partner’s share of goodwill. Ignoring other adjustments, what will be the net claim payable to the deceased partner’s legal representative?
Class 12 · Accountancy · Hard
→At the time of a partner’s death, the total claim payable to the partner’s executor is ₹1,27,000. If the accumulated loss to be adjusted is ₹7,000, what will be the revised claim?
Class 12 · Accountancy · Hard
→A deceased partner’s capital is ₹76,000, his share of goodwill is ₹14,000, and his share of profit up to the date of death is ₹10,000. What will be the total amount payable to his legal representative?
Class 12 · Accountancy · Hard
→On the death of a partner, how is the firm's reserve fund treated in relation to the deceased partner?
Class 12 · Accountancy · Hard
→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?
Class 12 · Accountancy · Hard
→To whom is the total amount due to a deceased partner paid?
Class 12 · Accountancy · Hard
→A deceased partner’s total claim amounts to ₹156000. If there is a revaluation loss of ₹6000, what will be the net claim payable to the deceased partner?
Class 12 · Accountancy · Hard
→On the death of a partner, if ₹108000 is due for capital, ₹12000 is to be credited for goodwill, and drawings amount to ₹20000, what will be the net claim payable to the deceased partner’s estate?
Class 12 · Accountancy · Hard
→A deceased partner’s capital is ₹72,000 and their share in the reserve fund is ₹28,000. If goodwill, profit or loss, and other adjustments are excluded, what will be the deceased partner’s total claim?
Class 12 · Accountancy · Hard
→Why is a deceased partner given a share of the profit earned up to the date of death?
Class 12 · Accountancy · Hard
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