Accumulated Profits are
Accumulated Profits are
a) credited to continuing partners capital accounts in their new profit sharing ratio.
b) credited to continuing partners capital accounts in their old profit sharing ratio.
c) credited to all the partners capital accounts before reconstitution of the firm in their old profit sharing ratio.
d) debited to all the partners capital accounts before reconstitution of the firm in their old profit sharing ratio.
Anurag Pathak Changed status to publish July 2, 2023
Ans – c)
Explanation:- Accumulated profits belongs to all the partners as it is earned in their old profit sharing ratio.
Anurag Pathak Changed status to publish July 2, 2023
