Question

A,B and C were partners sharing profit and losses in the ratio of 2:2:1.C died on 30th June 2018.Profit and sales for the year ended 31st March,2018 were Rs. 100000 and Rs.1000000 respectively. Sales during April to June,2018 were Rs 150000. You are required to calculate share of profit of C up to the date of his death​

Answer 1

Explanation:

14.Q-10 On the death of a partner, his

share in the profits of the firm till the date

of his death is transferred to the: *

(1 Point)

Credit of Profit & Loss

Account

Debit of Profit & Loss

Suspense Account.

Debit of Profit & Loss hmm

Account

Credit of Profit & Loss

Suspense Account