If the firm has sufficient bank balance for settlement to deceased partner, the journal entry would be-

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Deceased partner's Executor A/c Dr.

To Bank A/c

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Bank A/c Dr.

To Deceased partner's Executor A/c

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Deceased partner's A/c Dr.

To Bank A/c

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
Deceased partner's Executor A/c Dr.

To Bank A/c

If the firm has sufficient bank balance for settlement to deceased partner, the journal entry would be -

Deceased partner's Executor A/c Dr.

To Bank A/c

Suggest Corrections

Similar questions

If the partnership firm has enough bank balance to settle immediately the payment of the deceased partner, the journal entry for settlement is -

Join BYJU'S Learning Program