Death of a Partner

The executer is entitles to all the right of a (a)   .

Share of goodwill of the decease partner is (a)   to his capital account.

In case of death of a partner the profit may be estimated on the basis of ______ and_______.

(a)  

The balance in the capital account of the deceased partner is transferred to his (a)   account.

Interest on drawings due from deceased partner till the date of the death is (a)   to his capital account.

Share of goodwill of the deceased partner is (a)   to his capital account.

Ram Mohan and Sohan are partner sharing profit in the ratio of 4:3:2 , Mohan died on 1st Oct 2019,new ratio will be 1:2 among Ram and Sohan , goodwill of the firm is valued at Rs. 6,00,000 (a)   amount will be transfer to Mohan capital A/c.

A, B, C were partners sharing Profit and Losses in the ratio of 3.2.1 Books are closed on 31stMarch every year. C dies on 30th, Nov 2018. Under the partnership deed, the executors of deceased partner are entitled to his share of profit up to the date of death, Profit as on ended 31st Mar 2018 was Rs. 2,40,000 C’s share of profit will be

• 26667

• 40000

• 30000

• 53333

If three partners A, B, C are sharing profit as 5:3:2,then on the death of a partner A, how much B and C will pay to A executor on account of goodwill. Goodwill is to be calculated on the basic of 2 years purchase of last 3 years average profit, profits for the last 3 years are Rs. 3,28,000 Rs. 3,46,000 and Rs. 4,00,000.

• Rs. 3,16,000 and Rs. 1,42,000

• Rs. 2,44,000 and Rs. 2,16,000

• Rs. 4,29,600 and Rs. 2,86,400

• Rs. 2,16,000and Rs. 1,44,000

An account prepared to ascertain the gain or loss at the time of death of a partner is called

• (a) A realisation Account

• (b) Executors Account

• (c) Revaluation Account

• (d) Decreased Partner