Question

Q2) A B & C were partnere in a tim sharing profits & losses in the ratlo of 3:2:1. On March
2017 their Balance Sheet was as follows:
Balance sheet
5 at March 31, 2017
MS
Assets
Rs.
piede
1.80,000
DOD
Current Art
35,500
ADIMO
UDD
120,00
Hocerme und
LEO
editors
21.000
Employmes Provident Fuld
0000
215.000
2.15,000
From April 2017, they dedided to have future profits equally. For this purpose the followings were
agreed upon
Goodwill of the firm was valued at Rs. 3,00,000,
Find Assets will be depreciated by 10%.
CW Capitals of the partners will be in proportion to their new profit sharing.
ratiaFor this purpose, current Accounts will be opened.
Pam ne maryloumál entries for the above transactions in the books of the firm (4 marks)​

Answer 1

Answer:

equally. For this purpose the followings were

agreed upon

Goodwill of the firm was valued at Rs. 3,00,000,

Find Assets will be depreciated by 10%.

CW Capitals of the partners will be in proportion to their new profit sharing.

ratiaFor this purpose, current Accounts will be opened.