[CBSE] Q. 28 Change in profit sharing ratio Solution TS Grewal Class 12 (2023-24)
Solution to Question number 28 of the Change in Profit sharing ratio chapter 4 of TS Grewal Book class 12 CBSE 2023-24 Edition?
Ajeet and Vijeet and Sujeet are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They decide to share profits and losses in the ratio of 2 : 5 : 3 with effect from 1st Apirl, 2023. Land (having book value of ₹ 1,00,000) was found undervalued by ₹ 2,50,000 and stock (having book value of ₹ 4,00,000) was found overvalued by ₹ 3,00,000.
Pass the necessary adjusting entry without affecting the existing book’s value.
[Ans.: Dr. Ajeet’s Capital A/c by ₹ 15,000; Cr. Vijeet’s Capital A/c by ₹ 10,000 and Sujeet’s Capital A/c by ₹ 5,000.]
Solution:-
Here is the list of all Solutions
| S.N | Questions |
| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
| 6 | Question – 6 |
| 7 | Question – 7 |
| 8 | Question – 8 |
| 9 | Question – 9 |
| 10 | Question – 10 |
