Which of the following account is debited in case of the Death of a Partner for the profit till the death of deceased partner?

Profit and Loss Suspense A/c

The correct answer is option 3- Profit and Loss Suspense A/c.

In case of the Death of a Partner, Profit till the death of deceased partner is debited to Profit and Loss Suspense A/c.

In case of death of a partner, his claim shall also include his share of profit or loss, interest on capital, interest on drawings (if any) from the date of the last Balance Sheet to the date of his death of these, the main problem relates to the calculation of profit for the intervening period (i.e., the period from date of the last balance sheet and the date of the partner’s death. Since, it is considered cumbersome to close the books and prepare final account, for the period, the deceased partner’s share of profit may be calculated on the basis of last year’s profit (or average of past few years) or on the basis of sales. For being deceased partner’s share of profits for the intervening period to books of account, the journal entry will be recorded as follows:
   Profit & Loss Suspense A/c Dr. 
             To Deceased partner's Capital A/c

Later Profit and Loss Suspense account is closed by transferring the account to Gaining Partners' Capital Account in their gaining ratio.