how would you compute the amount due to a deceased partners executor?
Hi there,
Executor of deceased partner is entitled for balancing figures of capital account of deceased partner. Balancing figure is excess of credit side over debit side of deceased partner 's capital account.
You can form deceased partner 'capital account in this way:
Credit following items:
amount standing at credit side of deceased partner 's capital account
His share of profit on revaluation
his share of goodwill
His share of any accumulated profit
Debit following items:
Drawing by deceased partner
Interest on drawing
His share of loss on revaluation
His share of any accumulated loss
After preparing account minus debit side balance from credit side and you will get balancing figure
Hope it helps you.
Good luck!