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11 02, 2016

Adjustments on Death of Partner

The accounting adjustments required at the time of death of a partner are same as in case of retirement. The main difference is regarding the estimated profit calculated for the period from the date of last Balance Sheet to the date of death.
11 02, 2016

Estimated Profit on Death of Partner

Calculation of share of profits from the date of last Balance Sheet up to the date of death. This profit can be calculated by............
11 02, 2016

Deceased Partner’s Capital Account

Deceased Partner's Executor is to be paid immediately or in installments, depending on the terms.
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