Question

The Balance Sheet of Akbar and Anthony who share Profits and Losses
in the ratio of 2:3 show a balance of Workmen Compensation Reserve at
Rs 80000. Identify the amount of Workmen Compensation Reserve that
will be distributed among the old partners when claim on account of
workmen compensation is estimated at Rs 65000 on the admission of
Amar

Answer 1

Answer:

80000-65000=15000.

Explanation:

Journal entry will be

Akbar capital a/c dr 6000

anthony capital a/c dr 9000

To w.c.f. a/c 15000