Nitin, Tarun and Amar are partners sharing profits equally and decide to share profits in the ratio of 2 : 2 : 1 w.e.f 1st April, 2023. The extract of their Balance Sheet as at 31st March, 2023 is as follows:
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Solution:- Case – 2 When there is no claim against the Workmen Compensation reserve, the entry would be the same as given
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