Question

Manoj rakesh and harsh were partners in sharing ratio of 2:2:1 and manoj died on 30th june 2020 and the last year's profit and last year's loss was 2,00,000? pass journal enteries

Answer 1

Explanation:

Death of A Partner The partnership comes to an end immediately, whenever a partner dies although the firm may continue with the remaining partners.

The deceased partner is entitled to get his share in the firm as per the provision of a partnership agreement. His share in the firm is calculated in the same manner as in the case of a retiring partner.