Sarthaks Test
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Kumar, Verma and Naresh were partners in a firm sharing Profit and Loss in the ratio of 3: 2: 2. On 23rd January, 2015 Verma died. Verma’s share of profit till the date of his death was calculated at Rs.2,350. Pass necessary Journal entry for the same in the books of the firm.

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The journal entry for transferring verma's share of profit to his capital account is given below.

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