Question

PART 1
SECB
Q.19 TO Q.36 QUESTIONS ATTEMPT ANY 15 QUESTIONS.
19. X and Y are sharing profits in the ratio of 42. They admit a new partner for
1/3 share in profits New ratio of the partners will be the time on
adreission of Z. Balance Sheet show a balance of General Reserve R$ 30,000
Partners have decided not to distribut the General Resc. What will be the
impact on Y's capital Account?
A No impact because they will not distribute Reserve
B R$ 6,000 credit to his capital account
CRS 10,000 credit to his capital account
DRs 4,000 debit to his capital account

Answer 1

Answer:

a no impact because they will not distribute reserved