Radha, Tina and Reeta were partners sharing profits equally. Reeta died on 31st July 2022.

Radha, Tina and Reeta were partners sharing profits equally. Reeta died on 31st July 2022. Radha and Tina decided to continue the business. Share of profit or loss of the deceased partner from the beginning of the year up to the date of death was to be determined on the basis of last year’s profit, which was ₹ 4,50,000. Pass necessary Journal entry to record Reeta’s share of profit/loss up to the date of death.