Page 7 - LM DEATH OF A PARTNER

To Deceased Partner’s Capital A/c

(Being transfer of the share of
subsequent profits to deceased partner’s

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