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Profit or Loss Suspense A/c

Name the acco...

Question

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?

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Solution

Profit and Loss Suspense Account is opened to credit the share of profit of the deceased partner.

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Q. Short answer type question:
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.

Q. After the death of a partner, the amount due to the deceased partner by his capital account is transferred to his account.

Q. When capitals are made proportionate to profit-sharing ratio and excess capital is paid back to a partner is his Capital Account debited or credited?

Amount due to a deceased partner shown by his capital account is transferred to his ___

Q. The amount is paid to executor of deceased partner for his share of profit. This payment is recorded in profit and loss account.

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Profit or Loss Suspense A/c

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