Question

milan khalin and salim were parterners sharing profit in ratio 2:2:1 .They decide to share future profit in the ratioof 7:5:3 with effet from 1 st april 2019 after revaluation of asset and reassement of liability revaluation account shows a loss og 15000.the amount to be debited in capital account of milan
​

Answer 1

Amount debited in the capital account of Milan is 7,000

Explanation:

Given:

Old sharing ratio (Milan ,khalin ,Salim) = 2:2:1

New sharing ratio (Milan ,khalin ,Salim) = 7:5:3

Loss on revaluation = 15,000

Note: Loss will be distributed in the new ratio.

Computation:

Milan's amount of loss = Loss on revaluation × Milan's sharing ratio

Milan's amount of loss = 15,000 × (7 / 15)

Milan's amount of loss = 7,000

So, Amount debited in the capital account of Milan is 7,000

Learn more:

https://brainly.in/question/7958727