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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 are sharing profits 50% : 30% and 20%. As per new agreement profit will be shared by the partners in the ratio of 5:9:6. At the time of this change, General Reserve Rs.60,000 appears in the balance sheet. They decided not to distribute it. X's Capital Account will be:

    A) No effect at all

    B) Debited with Rs.9,000

    C) Debited with Rs.6,000

    D) Credited with Rs. 15,000

    Correct Answer: D

    Solution :

    Credited with Rs. 15,000


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