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Sebastian, George and Suresh , were …

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Sebastian, George and Suresh , were partners sharing profits in the ratio of 4:3:1. Sebastian retires and sells his share of profits to George and Suresh for Rs.36,000 (Rs.24000 being paid By George and Rs.12,000 by Suresh). The profit for the year after the retirement of Sebastian was Rs.1,20,000. Pass necessary Journal entries for the above transactions, including the distribution of profit after retirement.

Posted by Pari Agrawal 2 years, 6 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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