Solution of Q 18 Change in Profit-Sharing Ratio TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 18, Chapter 3 Change in Profit-Sharing Ratio Among the Existing Partners, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 18
Ashok, Bhim and Chetan who were sharing profits in the ratio of 5 : 3 : 2, decided to share profits in the ratio of 2 : 3 : 5 with effect from 1st April, 2023. Workmen Compensation Reserve existed at ₹ 1,20,000 in the Balance Sheet as at 31st March, 2023 and Workmen Compensation Claim of ₹ 1,50,000 exists. Pass Journal entries for the accounting treatment of Workmen Compensation Reserve.
Solution
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About this solution
This is Chapter 3 Change in Profit Sharing Ratio of TS Grewal Edition 2023-24.
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 Accountancy Board Exam.
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