Question

OR
A, B and C are partners sharing profits in the ratio 6:3:1 and they decided to
share future profits and losses in the ratio 5:3:2 with the effect from 1st April
2018. Following items appear in the Balance Sheet as at 31st March 2018.
Rupees
General Reserve
45,000
Workmen Compensation Reserve
30,000
Profit and Loss Account (Dr.)
12,000
Advertisement Suspense A/C
18,000
Pass necessary journal entries to give effect to the change in profit sharing
ratio.
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Answer 1

Answer:

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