Preparing Profit and Loss Adjustment Account and Executor Account for a Deceased Partner

The video tutorial covers the process of handling the death of a partner in a business partnership. It begins with an introduction to the problem, followed by details about the partnership and the balance sheet. The tutorial then explains the necessary adjustments and revaluation of assets like machinery and furniture, as well as provisions for taxation. It also covers the executor account and the installment payments required to settle the deceased partner's dues. The video concludes with a summary of the problem-solving process.

What was the capital account balance of Shan on 31st December 2018?

How was the machinery valued after revaluation?

What was the interest rate charged on Shan's drawings?

What was the share of goodwill for Shan?

What was the total profit share amount for Shan from the last financial year to the date of death?

How many equal installments were made to Shan's executor?

What was the journal entry for the general reserve account?

What adjustments were made to the furniture value after revaluation?

What provision was made for taxation after Shan's death?

What was the total amount payable to Shan's executor?