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Class 12 · Accountancy
→A partnership firm’s estimated annual profit is ₹7,56,000. For calculating the deceased partner’s profit up to the relevant date, what amount should be taken as the profit for one month?
Class 12 · Accountancy
→Which of the following is generally considered the most reliable basis for estimating a partner’s share of profit up to the date of death?
Class 12 · Accountancy
→If the deceased partner’s estimated annual share of profit is ₹10,08,000, what amount of profit share should be accounted for the 5 months up to the date of death?
Class 12 · Accountancy
→If the partnership agreement contains no contrary provision, on what basis is the deceased partner’s share of profit up to the date of death generally determined?
Class 12 · Accountancy
→A partner dies 3 months after the beginning of the accounting year. If the firm’s estimated annual profit is ₹13,20,000 and profit is assumed to accrue evenly over time, what amount of profit should be considered for the first 3 months before calculating the deceased partner’s share?
Class 12 · Accountancy
→Assertion: When a partner dies, he is entitled to his share of the profit earned up to the date of his death. Reason: He was a partner of the firm up to the date of his death.
Class 12 · Accountancy
→The firm’s annual profit is ₹4,44,000. What will be the deceased partner’s share of profit for 2 months, assuming the share is calculated on a time basis?
Class 12 · Accountancy
→When the deceased partner’s share of profit earned up to the date of death is credited to the partner’s account, what happens to the amount payable to the deceased partner’s legal representative?
Class 12 · Accountancy
→The deceased partner’s profit is to be estimated on a time basis up to the date of death. If the firm’s estimated annual profit is ₹5,76,000, what will be the share of profit for 4 months?
Class 12 · Accountancy
→In the accounting year in which a partner dies, how is the period after death treated while calculating the deceased partner’s share of profit?
Class 12 · Accountancy
→A partner dies after completing 11 months of the accounting year. If the estimated annual profit is ₹8,16,000, what amount should be taken as the profit for 11 months to determine the deceased partner’s share of profit up to the date of death?
Class 12 · Accountancy
→If the partnership deed does not specify the method for estimating profit up to the date of a partner’s death, which basis is generally used?
Class 12 · Accountancy
→A partnership firm earned an annual profit of ₹1,92,000 in the previous year. If the profit up to the date of a partner’s death is estimated for a period of 3 months, what will be the profit for that period?
Class 12 · Accountancy
→A partner dies during the year. If the profit up to the date of death is estimated on a time basis, which formula correctly calculates the deceased partner’s share of profit?
Class 12 · Accountancy
→The annual profit of a partnership firm is ₹3,36,000. If the deceased partner’s profit is estimated on a time basis and the partner died after 10 months of the accounting year, what amount of profit should be credited to the partner’s account up to the date of death?
Class 12 · Accountancy
→Who is the final beneficiary of the deceased partner's profit share?
Class 12 · Accountancy
→A partner dies after 7 months of the financial year. If the profit for the previous year was ₹6,24,000, what is the estimated profit up to the date of death?
Class 12 · Accountancy
→How is the deceased partner’s share of profit payable up to the date of death treated in the firm’s accounts?
Class 12 · Accountancy
→A deceased partner died 5 months after the beginning of the financial year. The average annual profit of the previous years is ₹7,20,000. Based on the average profit, what is the estimated profit up to the date of death?
Class 12 · Accountancy
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