Deceased Partner’s Capital Account
Capital account or Current account depending on the question...
Debit Amounts | Credit Amounts |
To Balance B/d (opening balance, if debit)
To Current A/c (debit balance) To Accumulated Losses (his share) To Goodwill( written off or adjusted) To Drawings A/c To Interest on Drawings A/c To Asset A/c (asset taken over) To Revaluation A/c (loss on revaluation) To Deceased Partner’s Executor’s Loan A/c ( closing balance) |
By Balance B/d (opening balance)
By Current A/c (credit balance) By Accumulated Profits (his share) By Profit and Loss Suspense A/c ( share of estimated profit) By Goodwill( adjusted) By Interest on Capital A/c By Salary/Commission A/c (up to the date of death) By Liability A/c (liability taken over) By Revaluation A/c (profit on revaluation ) |