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
X, Y and Z are sharing profits 50% : 30% and 20%. As per new agreement profit will be shared by the partners in the ratio of 5:9:6. At the time of this change, General Reserve Rs.60,000 appears in the balance sheet. They decided not to distribute it. X's Capital Account will be: