Meera, Myra and Neera were partners sharing profits in the ratio of 2 : 2 : 1. They decided to share future profits in the ratio of 7 : 5 : 3 with effect from 1st April, 2019. Their Balance Sheet as on that date showed a balance of ₹ 45,000 in Advertisement Suspense Account.
Meera, Myra and Neera were partners sharing profits in the ratio of 2 : 2 : 1. They decided to share future profits in the ratio of 7 : 5 : 3 with effect from 1st April, 2019.
Their Balance Sheet as on that date showed a balance of ₹ 45,000 in Advertisement Suspense Account.
The amount to be debited respectively to the capital accounts of Meera, Myra and Neera for writing off the amount in Advertisement Suspense Account will be
a) ₹ 18,000, ₹ 18,000 and ₹ 9,000
b) ₹ 15,000, ₹ 15,000 and ₹ 15,000
c) ₹ 21,000, ₹ 15,000 and ₹ 9,000
d) ₹ 22,500, ₹ 22,500 and Nil
Anurag Pathak Changed status to publish May 5, 2023
Ans – a)
Solution:-
Advertisement suspense will be written off in the old ratio among partners.
Meera share = 45,000 × 2/5 = ₹ 18,000
Myra share = 45,000 × 2/5 = ₹ 18,000
Neera share = 45,000 × 1/5 = ₹ 9,000
Anurag Pathak Changed status to publish May 4, 2023
