Which of the following will be shown on the credit side of Deceased Partner A/C?A. Revaluation Gain ShareB. Goodwill written offC. Share of profit till date of deathD. Drawings till date of deathE. Interest on capital till date of death Choose the correct answer from the options given below:
- AA and C only
- BB, D and E only
- CA, B and D only
- DA, C and E only
Solution & Step-by-step Explanation
Items that increase the deceased partner's capital balance are credited to the Deceased Partner's Capital Account. A. Revaluation Gain Share: Credited because it increases capital.B. Goodwill written off: Debited because it reduces capital.C. Share of profit till date of death: Credited because it increases capital.D. Drawings till date of death: Debited because it reduces capital.E. Interest on capital till date of death: Credited because it increases capital.Hence, A, C, and E only are shown on the credit side.