| Ram, Shyam and Mohan are partners sharing profits in the ratio of 5:3:2. They decided to share the future profits in the ratio of 2:3:5 with effect from 1st April, 2021. They decided to record the following without affecting the values: |
| Profit & Loss A/c (Cr) .............................................................Rs.24,000 |
| Advertisement Suspense A/c ...................................................Rs. 12,000 |
| What is the impact of the following adjustment on Shyam's Capital Account: |
A) No Effect on Shyam's Capital Account
B) Shyam's Capital Account Debit by Rs. 3,600
C) Shyam's Capital Account Credit by Rs. 3,600
D) Shyam's Capital Account Debit by Rs. 12,000
Correct Answer: A
Solution :
No Effect on Shyam's Capital Account
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