Change in Profi...

Which of the following item is not debited to the partners’ capital account?

What will you do, when Investment (cost) is given ₹200000 and Investment fluctuation reserves is given ₹18000.

VN, MN and KN are partners sharing profits in the ratio of 5:3:2 respectively. They have decided to share future profits in the ratio of 3:5:2. Workmen compensation reserve given in the balance sheet is Rs.6,000. How much amount of workmen compensation reserve is to be adjustment in gain or sacrificing ratio?

Which of the following can be distirbuted by the partners as a free reserve?

X, Y and Z are partners sharing profits equally. Credit balance of Profit and Loss account is given in the balance sheet Rs.6,000. Now they have decided to distribute profits in the ratio of 6:3:1. With what amount gainer will be debited for profit and loss account in an adjustment entry based on gain and sacrifice?

Sudha, Pushpa and Sneh are partners in a firm sharing profit in the ratio of 3:3:2. They decided to share profits equally w.e.f April 1, 2003. On that date, the Profit and Loss account showed the credit balance of Rs. 24,000. Instead of closing the Profit and Loss account, it was decided to record an adjustment entry reflecting the change in the profit sharing ratio. Show that entry.

X, Y and Z are partners in a firm sharing profits in 1 : 2 : 3 ratio. Their Balance Sheet as at 31.3.2003 showed a balance of Rs. 1,20,000 in General Reserve. From 1.4.2003, they will share profits equally. Give adjustment entry.

Revaluation Account will be debited when:

Which of the following is shown in the debit side of partners’ capital account?

On the reconstitution of a firm change in the value of assets is called ___