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Class 12 · Accountancy
→On what basis is a deceased partner’s share of profit up to the date of death generally estimated?
Class 12 · Accountancy
→A partnership firm’s estimated annual profit is ₹4,80,000, and profit is earned evenly throughout the year. A partner dies 5 months after the beginning of the accounting year. What will be the estimated profit of the firm up to the date of death?
Class 12 · Accountancy
→To whom is the deceased partner’s share of profit earned up to the date of death ultimately payable?
Class 12 · Accountancy
→The average annual profit of the firm for the last three years is ₹1,80,000. If a partner dies 8 months after the beginning of the accounting year and his share in the firm’s profits is 1/3, what will be his share of profit up to the date of death?
Class 12 · Accountancy
→Why is a partner’s share of profit up to the date of death primarily calculated?
Class 12 · Accountancy
→If the profit for the previous year was ₹3,60,000 and a partner died 2 months after the beginning of the financial year, what would be the estimated share of profit up to the date of death, assuming profit accrues evenly?
Class 12 · Accountancy
→When a partner dies, up to what period is their share of the current accounting year’s profit calculated?
Class 12 · Accountancy
→What type of item is the deceased partner’s share of profit earned up to the date of death?
Class 12 · Accountancy
→If, according to the partnership deed, profit is estimated on the basis of average profit and the time ratio, and a partner dies 9 months after the beginning of the accounting year, what will be the deceased partner’s estimated share of profit when the average annual profit is ₹2,40,000?
Class 12 · Accountancy
→If profit is earned uniformly throughout the year, which ratio is used to estimate the deceased partner’s share of profit up to the date of death?
Class 12 · Accountancy
→Why is a deceased partner entitled to a share of the profit earned by the business up to the date of death?
Class 12 · Accountancy
→For calculating a deceased partner’s share of profit, if the profit of the previous year was ₹1,20,000 and profit is assumed to accrue evenly throughout the year, what is the estimated profit attributable to the 3 months preceding death in the current year?
Class 12 · Accountancy
→If the partnership deed is silent where is the profit share up to death credited?
Class 12 · Accountancy
→The deceased partner’s share of profit up to the date of death is generally calculated on which basis?
Class 12 · Accountancy
→If a deceased partner’s capital account shows ₹78,000, the goodwill attributable to the partner is ₹12,000, and the accumulated loss adjusted against the partner’s share is ₹10,000, what is the net claim payable to the deceased partner’s legal representative?
Class 12 · Accountancy
→The total amount due to a deceased partner is ₹1,38,000. If a revaluation loss of ₹8,000 and drawings of ₹10,000 are to be deducted from it, what will be the net claim payable to the deceased partner?
Class 12 · Accountancy
→Why are the deceased partner’s drawings deducted while calculating the amount payable to the partner up to the date of death?
Class 12 · Accountancy
→At the time of a partner’s death, his Capital Account shows ₹93,000, his share of goodwill is ₹9,000, and his share of revaluation profit is ₹8,000. What total amount will be credited to the deceased partner’s account?
Class 12 · Accountancy
→In which situation is interest on capital included in the deceased partner’s share?
Class 12 · Accountancy
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