DK Goel Solutions Q 30 Chapter 2 Change in Profit Sharing Ratio Class 12 CBSE [2023-24]
Step-by-step solution of Question 30, Chapter 2 Change in Profit-Sharing Ratio Among the Existing Partners, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 30
A and B are partners in a firm sharing profits in the ratio of 3 : 2. On March 31, 2021, their Balance Sheet showed a general reserve of ₹ 54,000. On that date they decided to admit C as a new partner. The new profit sharing ratio between A, B and C will be 4 : 3 : 2. Record the necessary journal entry in the books of the firm under the following circumstances :
- (i) When they want to transfer the general reserve in their capital accounts.
- (ii) When they don’t want to transfer general reserve in their capital accounts and prefer to record an adjustment entry for the same.
Solution
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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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