Suresh, Ramesh, Mahesh and Ganesh were partners in a firm sharing profits in the ratio of 2 : 2 : 3 : 3. On 1st April, 2016, their Balance Sheet was as follows:
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Ram, Mohan, Sohan and Hari were partners in a firm sharing profits in the ratio of 4 : 3 : 2 : 1. On 1st April, 2016, their Balance Sheet was as follows:
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Balance Sheet of X and Y, who share profits and losses as 5 : 3, as at 1st April, 2022 is:
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A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. Their Balance Sheet as on 31st March, 2015 was as follows:
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Rajesh and Mahesh are partners in a firm sharing profit in the ratio of 3 : 2. Their Balance Sheet as at 31st March 2023 was as follows:
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Ajeet and Vijeet and Sujeet are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They decide to share profits and losses in the ratio of 2 : 5 : 3 with effect from 1st Apirl, 2023. Land (having book value of ₹ 1,00,000) was found undervalued by ₹ 2,50,000 and stock (having book value of ₹ 4,00,000) was found overvalued by ₹ 3,00,000. Pass the necessary adjusting entry without affecting the existing book’s value.
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A, B and C are sharing profits and losses in the ratio of 2 : 2 : 1. They decided to share profit w.e.f 1st April, 2023 in the ratio of 5 ; 3 : 2. They also decided not to change the values of assets and liabilities in the books of account. The book values and revised values of asset and liabilities as on the date of change were as follows:
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Hari, Kunal and Uma are partners in a firm sharing profits and losses in the ratio of 5 ; 3 : 2. From 1st April 2018 they decided to share future profits and losses in the ratio of 2 : 5 : 3. Their Balance sheet showed a balance of ₹ 75,000 in the Profit and Loss Account and a balance of ₹ 15,000 in investment Fluctuation Fund.
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Ashish, Aakash, and Amit are partners sharing profits and losses equally. The Balance Sheet as at 31st March 2023 was as follows:
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Bhavya and Sakshi are partners in a firm, sharing profits and losses in the ratio of 3 : 2. On 31st March 2018, their Balance Sheet was as under:
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