Which account is opened after the death of a partner for transferring profit and loss of the period from the beginning of financial year till the death?

P and L suspense A/c

The correct answer is option 2- P and L suspense A/c.

P and L suspense A/c is opened after the death of a partner for transferring profit and loss of the period from the beginning of financial year till the death.

For being deceased partner’s share of profits for the intervening period to books of account, the following journal entry is recorded.

Profit and Loss (Supense) A/c Dr.
      To Deceased Partner’s Capital A/c
(Share of profit for the intervening period)
Later Profit and Loss Suspense account is closed by transferring the account to Gaining Partners' Capital Account in their gaining ratio. The journal entry is:
(ii) Gaining Partners Capital A/c [In gaining ratio]
           To Profit and Loss Suspense A/c
(P&L Suspense account transferred).