Solution of Q 21 Change in Profit-Sharing Ratio TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 21, Chapter 3 Change in Profit-Sharing Ratio Among the Existing Partners, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 21
Amar and Akbar are partners sharing profits in the ratio of 2 : 1. On 31st March, 2023, their Balance Sheet showed General Reserve of ₹ 60,000. It was decided that in future they will share profits and losses in the ratio of 3 : 2. Pass necessary Journal entry in each of the following alternative cases:
- (i) When General Reserve is not to be shown in the new Balance Sheet.
- (ii) When General Reserve is to be shown in the new Balance Sheet.
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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