Which account would be debited for being deceased partner's share of loss for the intervening period in the books of account?
Which account would be debited for being deceased partner's share of loss for the intervening period in the books of account?
Solution
✅ Correct Option: 3
Profit or loss from the last balance sheet date to the date of death is routed through Profit and Loss Suspense A/c. For a share of loss the entry is Deceased Partner's Capital A/c Dr. to Profit and Loss Suspense A/c, so the account debited is the deceased partner's capital account; the Suspense account is credited here.
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