A, B and C are partners with profit sharing ratio of 2:1 respectively. C died on 1 oct 2021. Journal entry to be passed to give C his share of profit immediately will be:- Option 1: Profit and Loss Suspense A/c Dr To C's Capital A/c Option 2: C's Capital A/c Dr To Profit and Loss Suspense A/c Option 3: A's Capital A/c Dr B's Capital A/c Dr To C's Capital A/c Option 4: C's Capital A/c Dr To A's Capital A/c To B's Capital A/c

The answer is 'Profit and Loss Suspense A/c Dr To C's Capital A/c'. View full solution:

CUET Accountancy - A, B and C are partners with profit sharing ratio of 2:1 respectively. C died on 1 oct 2021. Journal entry to be passed to give C his share of profit immediately will be:- | PYQs + Solutions

CUET Accountancy 2022 16 July Shift 2

Partnership

Easy

Profit and Loss Suspense A/c Dr

To C's Capital A/c

C's Capital A/c Dr

To Profit and Loss Suspense A/c

A's Capital A/c Dr

B's Capital A/c Dr

To C's Capital A/c

C's Capital A/c Dr

To A's Capital A/c

To B's Capital A/c

✅ Correct Option: 1