Sarthaks APP
0 votes
in Accounts by (64.1k points)
How will you compute the amount payable to a deceased partner?

1 Answer

0 votes
by (106k points)
selected by
Best answer

In case of a death, the legal executor of the deceased partner is entitled for a claim which includes his share of profit or loss, interest on capital, interest on drawings In that case for computing the amount payable is calculated by preparing the deceased partner’s capital account as follows

Note: In the above capital account, the legal executor will be entitled for the balancing figure that is the excess of the credit side over the debit side of the deceased partner’s capital account.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.