[CBSE] Q. 21 Change in profit sharing ratio Solution TS Grewal Class 12 (2023-24)

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Solution to Question number 21 of the Change in Profit sharing ratio chapter 4 of TS Grewal Book class 12 CBSE 2023-24 Edition?

Amar and Akbar are partners sharing profits in the ratio of 2 : 1. On 31st March, 2023, 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) When General Reserve is not be shown in the new Balance Sheet.

ii) When General Reserve is to be shown in the new Balance Sheet.

Solution:-

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Anurag Pathak

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