Hari, Sunil and Anil are partners sharing profits equally which they changed to 2 : 2 : 1 w.e.f 1st April, 2023. Their capitals on that date were ₹ 5,00,000 each and the balance in Current Accounts ₹ 40,000 (Cr.); ₹ 30,000 (Cr.) and ₹ 20,000 (Dr.) respectively. On that date, balances also existed in the books as follows:
Hari, Sunil and Anil are partners sharing profits equally which they changed to 2 : 2 : 1 w.e.f 1st April, 2023. Their capitals on that date were ₹ 5,00,000 each and the balance in Current Accounts ₹ 40,000 (Cr.); ₹ 30,000 (Cr.) and ₹ 20,000 (Dr.) respectively. On that date, balances also existed in the books as follows:
General Reserve ₹ 1,00,000; Workment Compensation Reserve ₹ 1,00,000 (workmen Claim ₹ 50,000).
General Reserve and Workmen Compensation Reserve credited equally to their capital accounts will be
a) ₹ 1,50,000
b) ₹ 2,00,000
c) ₹ 2,50,000
d) None of these
Anurag Pathak Changed status to publish May 5, 2023
Ans – a)
Explanation:-
The amount to be credited to partners = General Reserve + WCR – WCC
1,00,000 + 1,00,000 – 50,000 = ₹ 1,50,000
Anurag Pathak Changed status to publish May 4, 2023
