The Deceased Partners Capital Account includes the following amount/balances:
(A) Opening balance of his capital
(B) His share of profit/loss till the date of death
(C) His share of General Reserve
.(D) His drawings till the date of death
(E) Amount paid to his executors

Question

If unrecorded assets are taken over by a partner, the entry will be:

Answer 1

The Deceased Partner's Capital Account comprises the following elements:

(A) Initial Capital Contribution: The opening balance of the partner’s capital.
(B) Profit/Loss Allocation Until Death: The deceased partner's entitlement to profits or losses up to their date of demise.
(C) Entitlement to General Reserve: The deceased partner's share of any existing general reserve is incorporated into their capital account.
(D) Drawings Made Before Death: Any withdrawals by the deceased partner prior to their death are subtracted from the capital account.
(E) Payments to Executors: This amount is not part of the partner's capital account but is a separate settlement to the executors.

Therefore, the correct components are:

(4) (A), (B), (C) and (D) exclusively

The Correct Option is D