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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
    X, Y and Z sharing profits in the ratio of 5:3:2. They decided to share future profits in the ratio of 2:3:5 Workmen compensation Reserve of Rs.60,000 was available at the time of change in ratio and there was no claim against it. Y's Capital Account will be:

    A) Credited by Rs.30,000

    B) Credited by Rs.18,000

    C) Credited by Rs.12,000

    D) Debited by Rs. 18,000

    Correct Answer: B

    Solution :

    Credited by Rs.18,000


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