[CBSE] DK Goel Q. 62 Change in Profit Sharing Ratio Solutions Class 12 (2024-25)

Solution of Question 62 of Change in Profit sharing ratio DK Goel Class 12 CBSE (2024-25)

Hari, Kunal and Uma are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. From 1st April, 2018 they decided to share future profits and loose in the ratio of 2 : 5 : 3. Their Balance Sheet showed a balance of ₹ 75,000 in the Profit and Loss Account and a balance of ₹ 15,000 in Investment Fluctuation Fund. For this purpose, it was agreed that:

(i) Goodwill of the firm was valued at ₹ 3,00,000.

(ii) That investments (having a book value of ₹ 50,000) were valued at ₹ 35,000.

(iii) That stock having a book value of ₹ 50,000 be depreciated by 10%.

Pass the necessary journal entries for the above in the books of the firm.

[Ans. Loss on Revaluation ₹ 5,000.]

Solution:-

Working Notes:-

Here are the solutions of Change in Profit Sharing ratio chapter of DK Goel Class 12 CBSE (2024-25)

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1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
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10	Question – 10

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12	Question – 12
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50	Question – 50

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51	Question – 51
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62	Question – 62