Home
Class 12
ACCOUNTS
How will you compute the amount payable ...

How will you compute the amount payable to a deceased partner?

Text Solution

Verified by Experts

The total because of the retiring partner (in case of retirement) and to the legal representatives/ executors (in case of death) includes
• credit balance of his capital account;
• credit balance of his current account(if any);
• his share of goodwill;
...
Promotional Banner

Topper's Solved these Questions

  • RECONSTITUTION OF A PARTNERSHIP FIRM-RETIREMENT/DEATH OF A PARTNER

    NCERT|Exercise Numerical Question|28 Videos

  • RECONSTITUTION OF A PARTNERSHIP FIRM-RETIREMENT/DEATH OF A PARTNER

    NCERT|Exercise Short Answer Questions|10 Videos

  • RECONSTITUTION OF A PARTNERSHIP FIRMADMISSION OF A PARTNER

    NCERT|Exercise Numerical Questions|35 Videos

Similar Questions

Explore conceptually related problems

X, Y and Z are partners in a firm. At the time of division of profit for the year, there was dispute between the partners. Profit before interest on partner's capital was Rs.6,000 and Y determined interest @24% p.a. on his loan of Rs.80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.

How do we compute the age of a fossils ?

How do we compute the age of a rock ?

How do we compute the age of a living tree ?