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. Post category:Accountancy Reading time:1 mins read SOLUTION Profit and Loss Suspense Account Please Share This Share this content Opens in a new window X Opens in a new window Facebook 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 PostHow goodwill is recorded on the retirement or death of a partner? Next PostAt what rate interest is payable on the amount remaining unpaid to the executor of deceased partner? (C.B.S.E. 2019 M.P.) You Might Also Like Following are the Balance Sheets of Krish tec Ltd. for the years ended 31st March 2012 and 2011: August 18, 2022 Bharat Lamp Ltd. issued 30,000 fully paid-up shares of Rs. 100 each for purchase of the following assets and liabilities from Sharma & Co: July 14, 2022 X, Y and Z are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Z retires from the firm on 31st March, 2019. On the date of Z’s retirement, the following balances appeared in the books of the firm: General Reserve Rs. 1,80,000 Profit and Loss Account (Dr.) Rs. 30,000 Workmen Compensation Reserve Rs. 24,000 which was no more required Employees’ Provident Fund Rs. 20,000. Pass necessary Journal entries for the adjustment of these items on Z’s retirement. August 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Following are the Balance Sheets of Krish tec Ltd. for the years ended 31st March 2012 and 2011: August 18, 2022
Bharat Lamp Ltd. issued 30,000 fully paid-up shares of Rs. 100 each for purchase of the following assets and liabilities from Sharma & Co: July 14, 2022
X, Y and Z are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Z retires from the firm on 31st March, 2019. On the date of Z’s retirement, the following balances appeared in the books of the firm: General Reserve Rs. 1,80,000 Profit and Loss Account (Dr.) Rs. 30,000 Workmen Compensation Reserve Rs. 24,000 which was no more required Employees’ Provident Fund Rs. 20,000. Pass necessary Journal entries for the adjustment of these items on Z’s retirement. August 3, 2022