Question : Choose the correct Journal entry, when deceased partners share is loss:

Option 1: Deceased Partner’s  Capital A/c ...Dr.

To Profit and Loss Suspense A/c

Option 2: Deceased partner’s capital account Dr 

To profit and loss Adjustment Account

Option 3: Deceased partner’s capital Account Dr 

To profit and loss account 

Option 4: None of the above

Question : Choose the correct Journal entry, when deceased partners share is loss:

Option 1: Deceased Partner’s  Capital A/c ...Dr.

To Profit and Loss Suspense A/c

Option 2: Deceased partner’s capital account Dr 

To profit and loss Adjustment Account

Option 3: Deceased partner’s capital Account Dr 

To profit and loss account 

Option 4: None of the above

Question : Amount in the credit side of the deceased Partner& Capital Account. Find out the odd one.

Option 1: His share of profit earned from the beginning of the financial year up to the date of death.

Option 2: His share of gain (profit) on revaluation of assets and reassessment of liabilities.

Option 3:  His share of accumulated losses

Option 4: Credit balance of capital account

Question : Amount in the credit side of the deceased Partner& Capital Account. Find out the odd one.

Option 1: His share of profit earned from the beginning of the financial year up to the date of death.

Option 2: His share of gain (profit) on revaluation of assets and reassessment of liabilities.

Option 3:  His share of accumulated losses

Option 4: Credit balance of capital account

Question :  At the time of the death of a partner deceased partner's Drawings and Interest on drawings will be ----------- to his capital account.

Option 1: Debited

Option 2: Credited

Option 3: Either 1 and 2

Option 4: None of the above