Name the account which is opened to credit the share of profit of the deceased partner, till the time of his death to his Capital Account. (Delhi 2013) Post category:Accountancy Reading time:1 mins read SOLUTION Profit & Loss Suspense Account. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhy heirs of retiring / deceased partner are entitled to share of goodwill of the firm? (Delhi 2014) Next PostDifferentiate between ‘Profit & Loss Appropriation Account’ and ‘Profit & Loss Suspense Account’. (Delhi and Al 2015 C) You Might Also Like From the following information, calculate Cash Flow from Financing Activities: August 18, 2022 Bat and Ball are partners sharing the profits in the ratio of 2: 3 with capitals of Rs. 1,20,000 and Rs. 60,000 respectively. On 1st October, 2018, Bat and Ball gave loans of Rs. 2,40,000 and Rs. 1,20,000 respectively to the firm. Bat had allowed the firm to use his property for business for a monthly rent of Rs. 5,000. The loss for the year ended 31st March, 2019 before rent and interest amounted to Rs. 9,000. Show distribution of profit/loss. July 20, 2022 Asha, Naveen and Shalini were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Goodwill appeared in their books at a value of Rs. 80,000 and General Reserve at Rs. 40,000. Naveen decided to retire from the firm. On the date of his retirement, goodwill of the firm was valued at Rs. 1,20,000. The new profit-sharing ratio decided among Asha and Shalini is 2 : 3. Record necessary Journal entries on Naveen’s retirement. August 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.