Question

Where is accumulated loss as per Balance sheet shown at the time of reconstruction of a

partnership firm ?​

Answer 1

Answer:

In this course, we discuss the change in profit and loss sharing ratio or distribution ratio between the existing partners in detail

Answer 2

Answer:

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Explanation:

hear is your answer :

Sometimes the balance sheet of the firm shows accumulated profits like general reserve, profit & loss a/c etc. Even the retiring partner should get a share of the undistributed profits because the accumulated profit was created while he was a partner and is also liable to share the accumulated losses (if any). These accumulated profits and losses should be transferred to all partners' capital accounts in their profit sharing ratio.