2. Questions Bank
  3. 12th Class
  4. Accountancy
  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
    Avya, Divya and Kavya were equal partners. They decided to change the profit sharing ratio to 4 : 3 : 2. For this purpose the goodwill of the firm was valued at Rs.90,000. The journal entry for the treatment of Goodwill of change in profit sharing ratio will be :

    A)
    Kavya’s Capital A/c Dr. 10,000  
               To Avya’s Capital A/c.   10,000

    B)
    Divya’s Capital A/c Dr.                10,000  
               To Avya’s Capital A/c Dr.   10,000
     

    C)
    Avya’s Capital A/c Dr.        10,000  
                To Kavya’s Capital A/c.   10,000
     

    D)
    Avya’s Capital A/c Dr. 10,000  
                To Kavya’s Capital A/c.   10,000
     

    Correct Answer: D

    Solution :

    Avya’s Capital A/c Dr. 10,000  
                To Kavya’s Capital A/c.   10,000


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