Advertisement
Question 08 Chapter 4 of +2-Part-1
Advertisement
Table of Contents
8. (Profit and loss account/ Reserve are closed) P and Q are partners in 2:1 ratio. They have decided to share the profit in 3:2 ratio. They have Rs.60,000 in profit and loss a/c and Rs.18,000 in General Reserve. They decided to distribute profits and reserve before changing their ratio.
Pass adjustment.
The solution of Question 08 Chapter 4 of +2 Part-1: –
Distribution of profit and general reserve or reconstitution of partnership | ||
Particulars | P | Q |
Partners share out of Profit & Loss a/c in 2:1 ratio | (Cr.)40,000 | (Cr.)20,000 |
Partners share out of General Reserve a/c in 2:1 ratio | (Cr.)12,000 | (Cr.)6,000 |
Net Effect | (Cr.)52,000 | (Cr.)26,000 |
Thanks, Please Like and share with your friends
Advertisement-X
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
Leave a Reply