Business studies Mcqs, Accounts Mcqs, Business studies notes,Quiz and case Based Questions, Quizizz

  Issue of Debentures

  Cash flow  Statement

  Financial statement of a company

  Issue of shares 

Dissolution of a partner  

  Death of a partner

Retirement of a partner  

  Admission of a partner

  change in the profit sharing ratio A, B and C were partners sharing profits and losses in the ratio of 7 : 5 : 4. From 1st April, 2016, they decided to share profits and losses in the ratio of 3 : 2 : 1. You are required to fill up the following journal entry: JOURNAL Date Particulars L.F. Dr.  ₹ Cr.  ₹ 2016 April 1 A's Capital A/c Dr.   -     B's Capital A/c Dr.   -     To C's Capital A/c (Adjustment for goodwill due to change in profit sharing ratio)       7,200   X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. They decide to share future profits and losses in the ratio of 2 : 3 : 5 with effect from 1st April, 2019. Following items appear in the Balance Sheet as at 31st March, 2019: