[CBSE] DK Goel Q. 24 Change in Profit Sharing Ratio Solutions Class 12 (2024-25)
Solution of Question 24 of Change in Profit sharing ratio DK Goel Class 12 CBSE (2024-25)
A, B and C are partners sharing profits and losses in the ratio of 1 : 2 : 3. From April 1, 2024, they decided to share the profits in the ratio of 2 : 3 : 4. On that date, Profit and Loss Account disclosed a debit balance of ₹ 90,000. Record the necessary journal entry for the distribution of the balance in the Profit and Loss Account.
[Ans. Debit A’s Capital A/c by ₹ 15,000, B’s Capital A/c by ₹ 30,000 and C’s Capital A/c by ₹ 45,000.]
Solution:-
Note:- In the absence of any additional information, the accumulated profits and losses are distributed to the old partners in their old profit sharing ratio.
