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Answer: The deceased partner's share of profit up to the date of death is transferred (credited) to the deceased partner's Capital Account, by debiting the Profit and Loss Suspense Account.

Since the books are not closed on the date of death, the profit is estimated (for example on the basis of last year's profit or average profit) and the entry is: Profit and Loss Suspense A/c Dr. To Deceased Partner's Capital A/c.

Doubtly AI · 29 Oct 2026 AI-generated · not yet verified Report
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