Question

Anil, Sunil and Hari were partners sharing profits equally. Sunil died on 31st December, 2025. In terms of the partnership deed, accounts were prepared for the period ended 31st December, 2025 and net profit was determined at 6,00,000.

Pass the Journal entry for the profit share of the partners.

Answer 1

Journal Entry
Date	Particulars	L.F.	Debit (₹)	Credit (₹)
2025 Dec 31	Profit & Loss Appropriation A/c   ...Dr.		6,00,000	-
	To Anil’s Capital A/c		-	2,00,000
	To Sunil’s Capital A/c		-	2,00,000
	To Hari’s Capital A/c		-	2,00,000
	(Being the actual net profit up to the date of death distributed equally among all partners)

Working Notes:

Calculation of Partners’ Profit Shares:

The partners share profits equally (1 : 1 : 1).

Anil’s Share = `6,00,000 xx 1/3`

= 2,00,000

Sunil’s Share = `6,00,000 xx 1/3`

= 2,00,000

Hari’s Share = `6,00,000 xx 1/3`

= 2,00,000