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Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners – Solution

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The partnership means when two or more than two persons are agreed to do business together and share the profits/losses of the business in an equal or already specified ratio. In the case of firm reconstitution, we have  Change in Profit-Sharing Ratio Among the Existing Partners as per the deal between the partners.

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“Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all” 

-Section 4 of the Indian Partnership Act, 1932

Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners – Solution

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Question 08 Chapter 4 of +2-A

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Question 17 Chapter 4 of +2-A

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Question 26 Chapter 4 of +2-A

Check out T.S. Grewal Book Keeping +2 @ Official Website of Sultan Chand Publication

+2 Book 1-min
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

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