A and B are partners in a firm sharing profits in the ratio of 4 1 They decided to share future prof......

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Accountancy ( 12th) Change in Profit Sharing Ratio Among the Existing Partners Add to Study Deck

A and B are partners in a firm sharing profits in the ratio of 4 : 1. They decided to share future profits in the ratio of 3 : 2 w.e.f. 1st April, 2019. On that day, Profit and Loss Account showed a debit balance of 1,00,000. Pass Journal entry to give effect to the above.

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Change in Profit Sharing Ratio Among the Existing Partners

Accountancy ( 12th)

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