Question

ankit unnati and aryan are partner sharing profits in the ratio of 5:3:2 they decided to share future profit in the ratio of2:3:5 with the effect from 1st April 2018 they had the following balance in there pass necessary journal entry particular profit and loss a/c dr 60500​

Answer 1

Answer:

2018

April,1

Ankit’s A/c Dr 30,250

Unnati's A/c Dr 18,150

Aryan’s A/c Dr 12,100

_To Profit and Loss A/c 60,500

(Being Profit and Loss debit

balance distributed at time of

change in profit sharing ratio)

hope it helps..