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Abhinav and Bharath are partners in …

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Abhinav and Bharath are partners in a firm sharing profits and losses in the ratio of 3:2. On 1 st April 2019, they decided to admit Chantan for 1/5 th share. Pass necessary journal entry to close Workmen Compensation Reserve A/c ₹ 1,20,000 found in the books at the time of Chantan’s admission. Claim on workmen compensation amounted to ₹ 40000.

Posted by Ansh Jasuja 6 years ago

CBSE > Class 12 > Accountancy

2 answers

Ansh Jasuja 6 years ago

?

Ansh Jasuja 6 years ago

Is the answer is :- Workmen compensation reserve. 120000. To claim on workmen compensation reserve 40000 To Abhinav. 48000 To bharath. 32000

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