Partnership

Retirement/Death

Medium

Which of the following will be shown on the credit side of Deceased Partner A/C?

A. Revaluation Gain Share

B. Goodwill written off

C. Share of profit till date of death

D. Drawings till date of death

E. Interest on capital till date of death

Choose the correct answer from the options given below:

A and C only

B, D and E only

A, B and D only

A, C and E only

✅ Correct Option: 4

On the credit side of Deceased Partner's Capital A/c, items that increase his claim are recorded: share of revaluation gain (A), share of profit till date of death (C), and interest on capital till date of death (E). Goodwill written off (B) and drawings (D) are debited as they reduce his claim.

2025: 4 June Shift 2

In the event of retirement of partner, following deduction has to be made from his/her share.:

2026: 19 May Shift 1

Hanny, Pammy and Sunny are partners sharing profits in the ratio of 3 : 2 : 1 and Pammy retires. In the absence of any information regarding the acquisition of share in profit of the retiring partner (Pammy) by the remaining partners, it is assumed that they will acquire his/her share in ____________.

2025: 24 May Shift 1

In case there is no information regarding the acquisition of a share in profit of the retiring/deceased partner by the remaining partners, the assumption is that they will acquire his/her share in the:

2025: 13 May Shift 1

In the absence of any information regarding the acquisition of shares in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his share in:

2025: 3 June Shift 1

In the absence of any information regarding the acquisition of a share in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share:

2026: 12 May Shift 1

Akash, Bhupesh, and Charan are partners in a firm sharing profits in the ratio of 3:2:1. Bhupesh retired and goodwill of the firm was valued at Rs. 60,000. Akash and Charan continue the business, sharing profits in the ratio of 3:1. What will be the journal entry for adjustment of goodwill in this case?

Particulars	Dr. Amount	Cr. Amount
Akash's Capital A/c Dr.	15,000
Charan's Capital A/c Dr.	5,000
To Bhupesh's Capital A/c		20,000

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Goodwill A/c Dr.		20,000
	To Bhupesh's Capital A/c			20,000

Particulars	Dr. Amount	Cr. Amount
Bhupesh's Capital A/c Dr.	20,000
To Akash's Capital A/c		15,000
To Charan's Capital A/c		5,000

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Bhupesh's Capital A/c Dr.		20,000
	To Goodwill A/c			20,000

Which of the following will be shown on the credit side of Deceased Partner A/C? A. Revaluation Gain Share B. Goodwill written off C. Share of profit till date of death D. Drawings till date of death E. Interest on capital till date of death Choose the correct answer from the options given below:

Solution

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