Question

X y and Z are the partners in a company sharing profit in the ratio of 4:3:2 .their balance sheet as31-3- 2016 showed a Debit balance of profit and loss account 180000 from 1st April 2020 they will share profits equally in the journal entry to give effect to the above arrangement when X Y and Z decided not to close a profit and loss account
(a) dr. X 20000 and cr. Z by 20000
(b) c.r. X by 20000 Dr. Z by 20000
(C) Dr. X by 40000 c.r. Z by 40000
(D) c.r. X by 20000, Dr. Z by 20000

Answer 1

Answer:

I don't know sorry sorry