Practicing Success
What journal entry will be recorded for deceased partner's share in profit from the closure of last balance sheet till the date of his death? |
Profit and Loss Suspense A/c Dr. Deceased Partner's Capital A/c Dr. Profit and Loss A/c Dr. Deceased Partner's Capital A/c Dr. |
Profit and Loss Suspense A/c Dr. |
For being deceased partner’s share of profits for the intervening period to books of account, the following journal entry is recorded. |