X,Y & Z are partners sharing profits in the ratio of 3:2:1.Their several policies are appearing in the books at their surrender value which is 30%.X Rs.30,000; Y Rs. 20,000; Z Rs. 10,000.X died on 1st April 2007 & Y & Z decided to share profits equally. Give necessary journal entries
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Answer:
Y=30000÷2+20000=35000.
Z=30000÷2+10000=25000.
Explanation:
Because y and z divided and shared the profit of X=30000÷2=15000 each
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