A, B and C are partners with profit sharing ratio of 2:1 respectively. C died on 1 oct 2021. Journal entry to be passed to give C his share of profit immediately will be:-
Held on 16 Jul 2022 · Verified 13 Jul 2026.
Profit and Loss Suspense A/c Dr
To C's Capital A/c
C's Capital A/c Dr
To Profit and Loss Suspense A/c
A's Capital A/c Dr
B's Capital A/c Dr
To C's Capital A/c
C's Capital A/c Dr
To A's Capital A/c
To B's Capital A/c
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