P, Q and R are partners in a firm sharing profits in the ratio of 3:3:2. From 1st April 2021, they decided to share profits equally. On the date following balances appeared in their books:
₹
Investment Fluctuation Reserve 30,000 Investment (at cost) 6,00,000 Based on the above information you are required to answer:-
If investment are valued at ₹4,50,000 then in respect of investments:
(A)Debit P,Q and R by ₹50,000 each
(B) Debit P,Q,R by ₹40,000 each
(C) Debit P by ₹45,000;Q by₹45,000 and R by ₹30,000 (D)Debit P by ₹56,250; Q by₹56,250 and R by ₹37,500
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(Ans : Trial Balance Total 1,08,100 14. Journalise the following transactions in the books of Ram for the month of April 2013 and prepare the necessary ledger accounts. 2013 ₹ April2 Ram commenced business with a capital of 50,000 3 Deposited in Bank 40,000 4 Purchased
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