Page 7 - Learning Material

capital A/c)

5. Deceased Partner’s Capital A/c Dr.

To Profit and Loss Suspense A/c

(Being transfer of the share of
subsequent losses to deceased partner’s
capital A/c)

6. Deceased Partner’s Loan A/c Dr.

To Deceased Partner’s Capital A/c

(Being transfer of partner’s loan to
deceased partner’s capital A/c)

7. Joint Life Policy A/c Dr.

To Deceased Partner’s Capital A/c

(Being transfer of the share of the joint
life policy to deceased partner’s capital