[CBSE] Q. 59 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 59 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

Sachin, Kapil and Rashmi have been sharing profits in the ratio of 3 : 2 : 1 respectively. Rashmi wants that she should share profits equally along with Sachin and Kapil and She further wants that change in profit sharing ratio should be applicable retrospectively for the last three years. Other partners have no objection to this. The profits for the last three years were ₹ 60,000, ₹ 47,000 and ₹ 55,000. Record the adjustment by means of a journal entry.

Ans:

Sachin’s Capital A/c Dr. 27,000
To Rashmi’s Capital A/c 27,000

Solution:-

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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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