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a,b,c and d in a firm …

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a,b,c and d in a firm sharing profit and losses in the rato 2:2:1:1. they decided to share a profit in future in the ratio 4:3:2:1for this purpose good will of the firm valued at 180000. save was also a reserve of 60000 in books of the firm . find sacrifice and gaining ratio and pass necessary general entry assuming that partners do not want to distribute the reserve

Posted by Tarandeep Singh 5 years, 3 months ago

CBSE > Class 12 > Accountancy

3 answers

Himanshu Yadav 5 years, 3 months ago

Entry For reserve...... A - 4000(DR) C - 2000(DR) B- 2000(CR) D-4000(CR)

Himanshu Yadav 5 years, 3 months ago

Entry for goodwill A's Capital A/c- 6000(dr.) C's capital a/c- 3000(dr.) B's capital a/c-3000 (cr.) D's capital a/c- 6000(cr.)

Himanshu Yadav 5 years, 3 months ago

Sacrificing Ratio A = -2/30 B= 1/30 C= -1/30 D= 2/30

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