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Partnership accounts please reply sir
Accountancy
Executor ac is it same as Loan account of the partner because we just transfer the closing balance to executor ac... And if the total amount due for the death of a partner is paid immediately is there any requirement to prepare executor account ??
Answers (3)
Niranjan Bhat
no it is note a loan. it is the a/c of the person who is the beloved deciesed partner.if the firm is not able to pay the partners money to executor it will become liability. we have to preper executors account because died partner cant take money.
Im not saying it is a loan ac..the formate looks similar to loan account
Thread Starter
Dhakshana DhakshanaIm not saying it is a loan ac..the formate looks similar to loan account
there is nosaperate formate for loan a/c it is ledger.