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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
    SK and PK were partners in a firm sharing profits in 3:2 ratio. From 1st April 2021, they decided to change it to 3:1, For this purpose the goodwill of the firm was valued at Rs.1,20,000. PK's Capital Account will be:

    A) Debited by Rs.48,000

    B) Debited with Rs.30,000

    C) Credited with Rs.18,000

    D) Debited with Rs.18,000

    Correct Answer: C

    Solution :

    Credited with Rs.18,000


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