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  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
    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. Investment Fluctuation Reserve of Rs.4,000 was available at the time of change in profit sharing ratio, when investment (market value Rs. 19,000) appears at Rs.20,000. Y's Capital Account will be:

    A) Debited by Rs. 1,500

    B) Credited by Rs. 1,500

    C) Credited by Rs.900

    D) Credited by Rs.600

    Correct Answer: C

    Solution :

    Credited by Rs.900


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