A, B and C are partners in a firm sharing projets in the
salto of 5:3:2, whose books are closed
March. They are picaducing goods that com be purchased
by low
income group. They decided to change their
profit sharing ratio in 2:3.5, wef. let April. They
decided to record the effect of the following we thout
affecting book figures.
General reserve
Contingencies resowe
Rs 10,000
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Rs, 15,000
Rs 50,ooo
Rs 5,000
Profit and loss all Do
Pass journal entries,
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sorry I didn't know......
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