X, Y and Z were partners in a firm. The firm closes its books on 31st March every year. On 3l"1 December 2021, X died. The partnership deed provided…

$\displaystyle 9$ Firm’s profit for $\displaystyle 9$ months = ₹ $\displaystyle 6,00,000$ × $\displaystyle 12$ = ₹ $\displaystyle 4,50,000$ $\displaystyle 1$ X’s share is the profits till the date of his death = $\displaystyle 4,50,000$ $\displaystyle 3$× = ₹ $\displaystyle 1,50,000$ Journal Debit Credit Date Particulars Amount Amount (₹) (₹) $\displaystyle 2021$ Profit and Loss Suspense A/c Dr. $\displaystyle 1,50,000$ December $\displaystyle 31$ To X’s Capital A/c $\displaystyle 1,50,000$ (X’s share in the profits till the date of his death transferred to his Capital A/c) = $\displaystyle 3$