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Which of the following item is not shown in the credit side of deceased partner’s capital account?
  • a)
    Share of profit
  • b)
    Share of loss
  • c)
    Share of reserve
  • d)
    Revaluation profit
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Which of the following item is not shown in the credit side of decease...
Share of loss is not shown in the credit side it is shown in the debit side of deceased partner’s capital account. Following items are shown in the credit side of his account:
•Share of profit
•Revaluation profit
•Share of reserve
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Most Upvoted Answer
Which of the following item is not shown in the credit side of decease...
However, in general, if a partner has passed away, their capital account is typically closed and any remaining balance is transferred to their estate. Therefore, there may not be a credit side for a deceased partner.
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