Question

how will you treat the accumulated loss at the time of change in profit sharing ratio​

Answer 1

Answer:

These accrued gains or losses perfectly fits the partners and should be transferred to the capital a/c of the partners in their old profit sharing ratio. Reserves A/c Dr. Profit & Loss A/c Dr. In case of accumulated loss, the accounting treatment is to debit the capital account of old partner's.

Explanation:

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