Accountancy, asked by abhinav00459, 11 months ago

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 jefferson7
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

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