Monu, Sonu and Golu are partners in a firm sharing profits in the ratio of 2 : 2 : 1. Golu died on 5th November 2021. Under the partnership deed, the executors of the deceased partner are entitled to his share of profit to the date of death, calculated on the basis of last year's profit. Profit for the year ended 31st March 2022 was Rs. 3,00,000. Golu's share of profit will be :

Steps involved in accounting treatment at the time of death of a partner -

(A) Preparation of deceased partner's capital account

(B) Ascertainment of new profit sharing ratio and gaining ratio

(C) Preparation of revaluation account, if required

(D) Settlement by making payment to deceased partner's executor.

Choose the correct answer from the options given below:

The Deceased Partner's Capital Account includes the following amount/balances:

At the time of retirement of a Partner the remaining gaining partners should compensate the ______

Identify that account to which share of profit of a deceased partner is debited from the date of the last Balance Sheet to the date of his/her death

In case of retirement, the profit and loss suspense account is closed by transferring the amount to the _________.

R, S and K are partners sharing profits in the ratio 8:6:4. On the retirement of R, the new profit sharing ratio between S and K was decided to be 5:3. The Gaining ratio is -