12th Class Accountancy Change in Profit Sharing Ratio Among Existing Partner Question Bank MCQs - Change in Profit-Sharing Ratio Among Existing Partners

  • question_answer
    Meera, Myra and Neera were partners sharing profits in the ratio of 2 : 2 : 1. They decided to share future profits in the ratio of 7 : 5 : 3 with effect from 1st April, 2021. Their Balance Sheet as on that date showed a valance of Rs.45,000 in Advertisement Suspense Account. The amount to be debited respectively to the capital accounts of Meera, Myra and Neera for writing off the amount in Advertisement Suspense Account will be:

    A) 18,000, 18,000 and 9,000

    B) 15,000, 15,000 and 15,000

    C) 21,000, 15,000 and 9,000

    D) 22,500, 22,500 and Nil

    Correct Answer: A

    Solution :

    18,000, 18,000 and 9,000


You need to login to perform this action.
You will be redirected in 3 sec spinner