Q23. AnjuSanju and Manju are partners in a firm sharing profit and losses in the ratio of 5:3 : 2. from 1st
April 2019 they decided to share future profit and losses in the ratio of 2:5:3. their balance sheet showed a
balance of Rs. 75000 in the profit and loss account and a balance of Rs. 15000 in investment fluctuation
fund, for this purpose it was agreed that:
(1) Goodwill of the firm was valued at Rs. 3,00,000.
investments (having book value of Rs. 50000) were valued at Rs. 35000.
stock having a book value of Rs. 59000 be depreciated by 10%.
Pass necessary Journal entries for the above in the books of the firm.
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Explanation:
Anju Anju and Manju are partners in a firm sharing profit and losses in the ratio of 5:3 : 2. from 1st April 2019 they decided to share future profit and losses in the ratio of 2:5:3. their balance sheet showed a. balance of Rs. 75000 in the profit and loss account and a balance of Rs. 15000 in investment fluctuation
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