Arjun, Shiv & Saif are partners in a firm sharing profits in the ratio 4:3:3. On 1st April 2018 they decided to become equal partners. On this date book value of Investments were ₹.2, 00,000 and the market value of investment was ₹.1, 73,000. Firm has investment fluctuation fund of ₹.30,000. How much will be transferred to revaluation account at the time of change in profit sharing ratio.
a. Nil b. 30,000 c. 27,000 d. 3,000
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(A) Nil because
Investment fluctuation fund A/C Dr. 30000
To Investment A/C( 200000-173000) 27000
To Arjun capital A/C 1200
To Shiv capital A/C 900
To Saif capital A/C 900
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