When a partner dies in middle of a month i.e 12th june (accounting period is Apr to Mar) for calculating profits until his death, should we take exact no.of days until his death or we can round off to 2 months or 3 months.

Dear Student,

When a partner dies in middle of the month i.e. 12th June , then for calculating his share of profit total no. of days would be counted till the date of death i.e. we are required to calculate exact no. of days until his death & no round off should be done to 2 or 3 months.

In this case, total no. of days would be 73 days (30+31+12=73 days)

Regards,

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