Multiple Choice Questions on X Y and Z are partners sharing profits in the ratio of 2 3 5 Goodwill already appearing in their boo........... for Commerce 12th Preparation

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Multiple Choice Questions

X Y and Z are partners sharing profits in the ratio of 2 3 5 Goodwill already appearing in their boo...........

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    X, Y and Z are partners sharing profits in the ratio of 2 : 3 : 5. Goodwill already appearing in their books at a value of Rs60,000. X retires and Yand decided to share future profits equally. Journal entry w ill be :

    F s Capital A/c To A’s Capital A/c Dr. 12,000 12,000

    Incorrect Answer

    Fs Capital A/c To/Fs Capital A/c Dr. 60,000 60,000

    Incorrect Answer

    Xs Capital A/c Dr. 2,400 Fs Capital A/c Dr. 3,600 Z’s Capital A/c To Goodwill A/c Dr. 6,000 12,000

    Incorrect Answer

    Xs Capital A/c Dr. 12,000 Fs Capital A/c Dr. 18,000 Z’s Capital A/c Dr. 30,000

    Correct Answer
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    Explanation:

    Xs Capital A/c Dr. 12,000 Fs Capital A/c Dr. 18,000 Z’s Capital A/c Dr. 30,000

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