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Class 12 · Accountancy
→If the amount due to a deceased partner is not paid immediately, to which account is it generally transferred?
Class 12 · Accountancy
→A deceased partner’s capital account has a credit balance of ₹92,000. His share of the revaluation profit is ₹8,000, and there are no other adjustments. What total amount will be payable to his legal representative?
Class 12 · Accountancy
→On the death of a partner, how is the partner’s share of accumulated profits, such as the general reserve, treated in the partner’s account?
Class 12 · Accountancy
→In a firm, a deceased partner’s capital is ₹85,000 and their share of goodwill is ₹15,000. If there are no other adjustments, what will be the deceased partner’s total claim?
Class 12 · Accountancy
→Which of the following is a common mistake while calculating the deceased partner’s share of profit?
Class 12 · Accountancy
→For calculating a deceased partner’s share of profit, if the firm’s annual profit is ₹15,00,000 and the partner dies 3 months after the beginning of the financial year, what is the time-apportioned share of the firm’s profit up to the date of death? Assume that profit accrues evenly throughout the year.
Class 12 · Accountancy
→Why is a deceased partner’s share of profit calculated when the partner dies before the end of the accounting year?
Class 12 · Accountancy
→Based on the previous year’s profit, the deceased partner’s estimated annual share of profit was ₹3,24,000. If the partner dies after 5 months of the accounting year, what will be the share of profit up to the date of death?
Class 12 · Accountancy
→Payment of the deceased partner’s share of profit earned up to the date of death settles whose claim?
Class 12 · Accountancy
→The average annual profit is ₹6,60,000. If the partner died after completing 11 months of the accounting year, what is the estimated share of the firm’s profit up to the date of death? Assume a profit-sharing ratio of 1/1 for the time-based calculation.
Class 12 · Accountancy
→Why is it necessary to determine the period up to the date of death when calculating a deceased partner’s share of profit?
Class 12 · Accountancy
→A partner’s average annual share of profit was ₹9,00,000. The partner dies four months after the beginning of the financial year. What amount of profit should be credited to the partner’s account up to the date of death?
Class 12 · Accountancy
→How is the deceased partner’s share of profit earned up to the date of death treated in the firm’s books?
Class 12 · Accountancy
→If the firm’s annual profit is ₹10,80,000 and a partner dies after 2 months of the financial year, what is the estimated profit up to the date of death on a time basis?
Class 12 · Accountancy
→Case: The deed does not specify the profit estimation method. What is the most appropriate basis?
Class 12 · Accountancy
→At the time of a partner’s death, if profit for the 7-month period is estimated on a time basis using the previous year’s annual profit of ₹2,16,000, what will be the profit for that period?
Class 12 · Accountancy
→Assertion (A): Subject to the partnership agreement, the deceased partner’s account is credited with his share of the profit earned from the beginning of the current accounting year up to the date of death.\nReason (R): He was a partner up to the date of death, and his right to the profit of that period arises from the partnership agreement.
Class 12 · Accountancy
→If the firm’s annual average profit is ₹7,80,000 and a partner dies 5 months into the year, what is the estimated share of profit up to the date of death? Assume the partner’s profit-sharing ratio is 1.
Class 12 · Accountancy
→Which statement is correct regarding a deceased partner’s share of profit in a partnership firm?
Class 12 · Accountancy
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