DK Goel Solutions Q 39 Chapter 2 Change in Profit Sharing Ratio Class 12 CBSE [2023-24]
Step-by-step solution of Question 39, Chapter 2 Change in Profit-Sharing Ratio Among the Existing Partners, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 39
Aman, Bobby and Chandani were partners in a firm sharing profits and losses in the ratio of 5 : 4 : 1. From 1st April, 2018 they decided to share profits equally. The revaluation of assets and re-assessment of liabilities resulted in a loss of ₹ 5,000. The goodwill of the firm on its reconstitution was valued at ₹ 1,20,000. The firm had a balance of ₹ 20,000 in General Reserve.
Showing your workings clearly pass necessary journal entries on the reconstitution of the firm.
Solution
All questions of Chapter 2
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About this solution
This is Chapter 2 Change in Profit Sharing Ratio of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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