Accountancy, asked by sinha26rashmi, 6 months ago

accounting treatment of reserves and accumulated profits when there is change in the profit sharing ratio of existing partners​

Answers

Answered by anjanbhagam
3

Answer:

Any reserves or accumulated profits/losses appearing on the balance sheet should be transferred to the partner's capital accounts. If the partners decide to leave them undisturbed it is necessary to make an adjustment entry in the books of the firm.

Explanation:

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Answered by sarnavacharya92804
1

Answer:

Any reserves or accumulated profits/losses appearing on the balance sheet should be transferred to the partner's capital accounts. If the partners decide to leave them undisturbed it is necessary to make an adjustment entry in the books of the good.

Explanation:

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