No products in the cart.

How to prepare executor loan account

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

How to prepare executor loan account

  • 2 answers

Atifa Khan 3 years, 1 month ago

answer

Naveen Shukla 6 years, 7 months ago

1. When the partner dies, the amount payable to him is paid to his/her legal representatives.

2. The representatives of deceased partner is entitled to the followings:

(a) The amount standing to the credit to the capital account and the deceased partner.

(b) Interest on capital, if provided in the partnership deed, upto the date of death:

(c) share of the value of goodwill of the firm; ‘

(d) share of undistributed profit or reserves;

(e) share of profit on the revaluation of assets and liabilities;

(f) share of profit upto the date of death;

(g) share of Joint Life Policy.

The following amounts are debited to the account of the deceased partner’s legal representatives:

(i) Drawings

(ii) Interest on drawings

(iii) share of loss on the revaluation of assets and liabilities;

(iv) share of loss that have occurred till the date of his/her death

http://mycbseguide.com/examin8/

Related Questions

Rac ds1 solution
  • 0 answers
Question number 20
  • 0 answers
Rspl 1 accounts solutions
  • 0 answers
what is forfieture of shares
  • 0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Download myCBSEguide App