Which of the following is not included in the deceased partner's capital account at the time of death of a partner in the partnership firm?
Answer & explanation
Correct answer: option 2
The correct answer is option 2- Amount paid to his executors.
Amount paid to his executors is not included in the deceased partner's capital account at the time of death of a partner in the partnership firm.
Amount paid to his executors is not part of the capital account itself. It represents the total amount owed to the deceased partner, which would be the ending balance of the capital account after all adjustments. The balance of the capital account is transferred to the executor account which is paid by the firm to the executor of deceased partner. So, this will not become the part of capital account of deceased partner.