Question

What journal entry will be recorded for the deceased partner’s share in profit from the closure of the last balance sheet till the date of his death?

Options

• Profit and Loss A/c    Dr.
      To Deceased Partner’s Capital A/c

• Deceased Partner’s Capital A/c    Dr.
      To Profit and Loss A/c

• Deceased Partner’s Capital A/c     Dr.
       To Profit and Loss Suspense A/c

• Profit and Loss Suspense A/c    Dr.
      To Deceased Partner’s Capital A/c

Answer 1

Profit and Loss Suspense A/c    Dr.
    To Deceased Partner’s Capital A/c