How much amount due to deceased partner is calculated? (Answer in one sentence)
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AMMOUNT WHICH IS DEBITED ON THE DECEASED PARTNER CAPITAL AC..
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Explanation:
The deceased partner's heir is entitled to receive the sum of the Deceased Partner's Capital Account credit, his share of goodwill, revenues, asset and liability revaluation, capital interest, etc. In addition to this, the sums are also debited, such as the share of accumulated losses, drawings, interest on such drawings, etc. After making all the above adjustments, the amount in the capital account will be transferred to a new account opened on behalf of the executor.
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