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X, Y are partners sharing profits in the ratio of 2 : 1 . On 31st March, 2018, 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) If General Reserve is not to be shown in the new Balance Sheet. (ii) If General Reserve is to be shown in the new Balance Sheet. |
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Answer» i) If General RESERVE is not to be shown in the new Balance Sheet.(II) If General Reserve is to be shown in the new Balance Sheet.HOPE THIS HELPS ❤️PLEASEMARK AS BRAINLIEST ❤️❤️ |
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