A and B are partners in a firm sharing profits and losses in the ratio of 3:2.On 1st April, 2019 they
decided to admit C their new ratio is decided to be equal. Pass the necessary journal entry to
distribute Investment Fluctuation Reserve of₹ 60,000 at the time of C’s admission, when
Investment appear in the books at₹ 2,10,000 and its market value is ₹1,90,000.
Answers
Answered by
7
Answer:
Explanation:
Date Particulars LF DR Amount DR Amount
1st April 2019 Investment Fluctuation Reserve Dr 60,000
To Investment Account 20,000
To A's capital account 24,000
To B's capital account 16,000
Similar questions