Calculation of p&l suspense

1.	Calculation of p&l suspense
Answer» ${\huge{\underline{\underline{\mathfrak {\purple{♡Answer♡}}}}}}$ In case of Death of a partner, Share of DECEASED partner in the PROFITS or LOSSES of the firm (till the date of his/her death) is paid through Profit and LOSS SUSPENSE Account. At the time death of a partner, Profit and Loss A/c will not be debit/credit because, it is not possible for the firm to alter the books during the year, thus on the date of death a partner Profit and Loss Suspense A/c is debited/credited. ________________________

Answer»

${\huge{\underline{\underline{\mathfrak {\purple{♡Answer♡}}}}}}$

In case of Death of a partner, Share of DECEASED partner in the PROFITS or LOSSES of the firm (till the date of his/her death) is paid through Profit and LOSS SUSPENSE Account. At the time death of a partner, Profit and Loss A/c will not be debit/credit because, it is not possible for the firm to alter the books during the year, thus on the date of death a partner Profit and Loss Suspense A/c is debited/credited.

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Calculation of p&l suspense

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