Question

Capital acous VI all parties will be debited in old ratio
Band C are partners sharing profits in the ratio of 5:3:2. C retires and
Ragree to share future profits in the ratio of 6:4. Goodwill is to be taken at two
s purchase of the average profits of the last 5 years, which were 10.000
125.000: 15.000 (loss); 36,000 and 44,000 respectively.
At the date of C's retirement, following balances appeared in the books of the
General Reserve
1.20,000
Profit & Loss Account (Dr.)
30,000
C's Capital
2,00.000
You are required to record necessary journal entries in the books of the fim and
prepare Cs Capital Account on his retirement.
Ans. Amount due to transferred to his Loan A/c 2,26,000.]​

Answer 1

Answer:

Explanation:

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