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P,q,r were sharing profit in the …

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P,q,r were sharing profit in the ratio 2:3:5.from 1 april 2019 they decided to share profit in the ratio 5:3:2.on that data,advertisment suspense A/C of 55000,appeared in the assets side of the balance sheet give the necessary journal entery

Posted by Sayan Ghosh 5 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Khushi Gupta 5 years, 10 months ago

P's capital a/c dr. 16500 To R's capital a/c 16500 (Being advertisement suspense adjusted)

Shivam Talwar 5 years, 10 months ago

Its simple First calculate sacrificing ratio ie old ratio-new ratio of each partner. If it is positive it means the partner is sacrificing and if its negative it means the partner is gaining. Multiply the share with the advertisement suspense account balance And pass the journal entry as: Gaining partner's capital A/c. Dr To sacrificing partner's capital A/c

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