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  5. 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
    AK, GK and KK were sharing profits in the ratio of 5:3:2. From 1st April 2021, they decided to share the profits equally. Goodwill of the firm was valued Rs.2,40,000. For adjustment of Goodwill, KK's Capital Account will be:

    A) Debited with Rs.8,000 

    B) Credited with Rs.8,000

    C) Debited with Rs.32,000

    D) Credited with Rs.32,000

    Correct Answer: C

    Solution :

    Debited with Rs.32,000


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