Question

A, B, C are partner sharing profits ratio of 5:3:2 on 1st april 2018.they decided to share there profit in the ratio 2:2:1 on that day following balance appearing in the balance sheet.:

Profit and loss Cr. =1500

General reserve =5000

Defferred revenue expenditure =1000

Pass journal enteries

Answer 1

Answer:

general reserve a/c dr

A cap a/c 2000

B cap a/c 2000

C cap a/c 1000