Subjective Questions on Nitin Tarun and Amar are partners sharing profits equally and decide to share profits in the ratio ........... for Commerce 12th Preparation

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Subjective Questions

Nitin Tarun and Amar are partners sharing profits equally and decide to share profits in the ratio ...........

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    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:

    Liabilities

    Assets

    Investments Fluctuation Reserve

    60,000

    Investments

    AtCost

    4,00,000

    Pass the Journal entries in each of the following situations:

    i

    When its Market Value is not given;

    ii

    When its Market Value is    4,00,000;

    iii

    When its Market Value is    4,24,000;

    iv

    When its Market Value is    3,70,000;

    v

    When its Market Value is    3,10,000.

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