Change in Profit Sharing Ratio Among Existing Partner
12th Class
Accountancy
Change in Profit Sharing Ratio Among Existing Partner
Question Bank
MCQs - Change in Profit-Sharing Ratio Among Existing Partners
question_answer
Red Blue and White were sharing profits in the ratio of 1:2:2. They decided to share future profits in the ratio of 7:5:3 with effect from 1st April 2021. On that date, their Balance Sheet showed balance in Deferred Revenue Expenditure Account of Rs. 22,500. The amount will be debited to the partners' capital account as: