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X and Y are partners sharing profits losses in theratio of 5:3:2. Theydecide to share future profits and losses in the ratio of 2:3:5 witheffectfrom1st April, 2019. Followingitems appear in theBalance sheet as a 31st March, 2019: {:(,,"₹",,"₹"),(,"Genral Reserve","75,000","Advertisement Suspense A/c (Dr.)","50,00"),(,"Workmen Compenstion Reserve ","12,500","Profit andLoss Account(Cr.)","37,500"):} |
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