amit sumit and namit are partners sharing profit in the radio of 3:2:1.on 1 April 2018 they decided to share are profit and loss equally on the date there was a credit balance or 1,20,000 in their profit and loss account and balance of 60,000 in general reserve record the necessary journal entries in the book of the firm the partners decided to distribute the profit and the general reserve before bringing the new profit sharing radio into force.
Answers
Answered by
0
Answer:
P&L account dr 120000
General Reserve account dr 60000
to Amit 90000
to sumit 60000
to namit 30000
Explanation:
contact Rahul Sir @ 7007633645 for zoom classes
Similar questions