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Q18.Nitin, Tarun and Amar are partners sharing profits equally and decide to share profits in the ratio of 2 : 2 : 1 w.e.f. 1st April, 2019. The extract of their Balance Sheet as at 31st March,2019 is as follows:
Pass the Journal entries in each of the following situations:
When its Market Value is not given;
When its Market Value is 4,00,000;
When its Market Value is 4,24,000;
When its Market Value is 3,70,000;
When its Market Value is 3,10,000.
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