x,y,z are equal partners in a …
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x,y,z are equal partners in a firm. they decided to change profit sharing ratio to 3:2:1
Balance sheet show general reserve 15000, wcr 18000 and p&l (dr.) 6000.
Case1 when they decide to maintain identity of reserves and surplus.
Case 2 when they decide to keep only wcr at 24000.
Show accounting treatment
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