Amar and Akbar are partners sharing profits in the ratio of 2 : 1. On 31st March 2023, their Balance Sheet showed General Reserve of ₹ 60,000. It was decided that in future they will share profits and losses in the ratio of 3 : 2. Pass necessary Journal entry in each of the following alternative cases:
Amar and Akbar are partners sharing profits in the ratio of 2 : 1.
On 31st March 2023, their Balance Sheet showed General Reserve of ₹ 60,000.
It was decided that in future they will share profits and losses in the ratio of 3 : 2.
Pass necessary Journal entry in each of the following alternative cases:
i) When General Reserve is not be shown in the new Balance Sheet.
ii) When General Reserve is to be shown in the new Balance Sheet.
Anurag Pathak Changed status to publish April 30, 2023
