Question

012 Handeep and Sandeep are partner hanng profits in the ratio of 4.1. They decided to
distributed profits equally stunt in Apel 2019 Their balance sheet as on 15 March 2014
shows a balance of advertisement un oR 20.000 Pass the journal entry at the time
of change in profit hann valk​

Answer 1

Explanation:

Adjustments of Reserves, Accumulated Profits, and Losses

Any reserves or accumulated profits/losses appearing on the balance sheet should be transferred to the partner's capital accounts. If the partners decide to leave them undisturbed it is necessary to make an adjustment entry in the books of the firm.

Answer 2

Answer:

The above answer is absolutely right dear friend.......