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  3. 12th Class
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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
    A, B and C are sharing profits in the ratio of 1:1:1. They decided to share profits in the ratio of 2:3:5. On this date balance sheet of the firm showed a debit balance of Rs. 1,20,000 in Profit and Loss Account. B's Capital Account will be:

    A) Debit by 36,000

    B) Debit by 40,000

    C) Credit by 36,000

    D) Credit by 40,000

    Correct Answer: B

    Solution :

    Debit by 40,000


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