Question

What does this adjustment means??
Deceased partner will entitled to the Amount standing to the credit of partner's capital account.

Answer 1

Dear Student,

"Deceased partner will entitled be to the amount standing to the credit of partner's capital account."

This statement means after providing for all the adjustments, the deceased partner should be given the amount standing to the credit of his capital a/c or in other words, the credit balance of his capital a/c, either by payment of full amount in lump sum, or by payment in instalments, as specified.


Regards