A B and care partions in a firm sharing
profit in the ratio of 3:2:1 now they decide
to change profit sharing ratio to 1:1:1 They
wish that the change in profit sharing ratio
should come into effect retrospectively for the
The profit of last two years was
first year's profit. & 40.000
Second year's profit
show the adjustment of profit by a single adjustment entry
Answers
Explanation:
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