1.

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.

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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