Question

amount payable to deceased partner is transferred to

​

Answer 1

Answer:

Therefore, on the death of any one partner, the amount received from the insurance company against the joint life policy is credited to All Partners' Capital Accounts in their old profit sharing ratio.

Hope it helps

Answer 2

Answer:

An amount due to a deceased partner is transferred to his Capital a/c. The amount payable to the deceased partner will be paid to their legal representatives when the partner dies. The representatives have the right to the following particulars - the amount of the deceased partner's capital account credit