Question

2. Sudhir and Bhuwan are partners in a firm sharing profits in the ratio of
3:2. They decided to share future profit equally. On the date of change
in profit sharing ratio, Profit and Loss Account has a debit balance of
50,000. It will be adjusted in Partners Capital Accounts by passing the
following Journal Entry:
Sudhir's Capital A/c ...Dr. 30,000
Bhuwan's Capital A/c ...Dr. 20,000
To Profit and Loss A/c 50,000. (True/False) (1)
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Answer 1

Answer:

true

Explanation:

sudhir and bhuwan ratio is 3:2

so,sudhir is 30,000

bhuwan is 20,000