Multiple Choice Questions on P Q and R share profits in the ratio of 5 4 3 retires and the new ratio is 5 3 If R is given Rs6 000........... for Commerce 12th Preparation

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Multiple Choice Questions

P Q and R share profits in the ratio of 5 4 3 retires and the new ratio is 5 3 If R is given Rs6 000...........

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    P, Q and R share profits in the ratio of 5:4:3.// retires and the new ratio is 5 : 3. If R is given Rs6,000 as goodwill, journal entry will be :

    P’s Capital A/c Dr. 1,000 Q’s Capital A/c Dr. 5,000 To R’s Capital A/c 6,000

    Incorrect Answer

    P’s Capital A/c Dr. 5,000 Q’s Capital A/c Dr. 1,000 To R’s Capital A/c 6,000

    Correct Answer

    P’s Capital A/c Dr. 3,750 Q’s Capital A/c Dr. 2,250 To R’s Capital A/c 6,000

    Incorrect Answer

    P’s Capital A/c Dr. 3,333 Q’s Capital A/c Dr. 2,667 To R’s Capital A/c 6,000

    Incorrect Answer
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    Explanation:

    P’s Capital A/c Dr. 5,000 Q’s Capital A/c Dr. 1,000 To R’s Capital A/c 6,000

    By: santosh
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