In case of deceased partner what all entries are posted to his capital a/c ? URGENT !
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Deceased partner !
Replies (1)
Steps can be followed as :-
1. Disrtributing the reserves among the old partners incl. the deceased partner
2. Entries for Goodwill
3. Revaluation of Assets and Liabilities and distribute the Profits or Loss to the old Partnrs
4. And then Finally Balance to be paid to him or to be recd is calculated..
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