In case, deceased partner's share of pro

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

In case, deceased partner's share of profit is calculated during the intervening period, the following Journal Entry will be passed :-

Options:

Remaining Partners' Capital A/c
Dr. To Profit and Loss Suspense A/c

Old Partners' Capital A/c
Dr. To Profit and Loss Suspense A/c

Deceased Partner's Capital A/c
Dr. To Profit and Loss Suspense A/c

Profit and Loss Suspense A/c
Dr. To Deceased Partner's Capital A/c

Correct Answer:

Profit and Loss Suspense A/c
Dr. To Deceased Partner's Capital A/c

Explanation:

The correct answer is Option (4) →

Profit and Loss Suspense A/c
Dr. To Deceased Partner's Capital A/c