Question

Arun Karan Tarun are share profit and losses in the ratio of 5 ratio 3 ratio 2 they decided to share profit and losses in the ratio of 2 ratio 3 ratio 5 with effect from 1st April 2019 the also decided to record the effect of the following item without affecting their book values general reserve is 150000,:/contingency reserve :20000/profit and loss a/c (cr) :80000 advertisement suspense a/cr (dr):120000 ? pass necessary adjustment entry for above transaction and adjustment ​

Answer 1

first right your question properly