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Nasim and Parvez are partners sharing profits equally. They changed their profit sharing ratio to 2 : 3 w.e.f 1st April 2023. The assets were revalued, and liabilities were reassessed on that date which resulted in a loss of ₹ 80,000. It will be transferred to their capital account by

a) Debiting Nasim’s Capital Account and Parvez’s Capital Account by ₹ 40,000 each.

b) Debiting Nasim’s Capital Account and Parvez’s Capital Account by ₹ 80,000 each

c) Crediting Nasim’s Capital Account and Parvez’s Capital Account by ₹ 40,000 each

d) Crediting Nasim’s Capital Account and Parvez’s Capital Account by ₹ 80,000 each

Anurag Pathak Changed status to publish May 5, 2023
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