CHANGE IN PROFIT SHARING RATIO ( PSR) ONE SHOT Class 12th Accounts Revision Series скачать в хорошем качестве

CHANGE IN PROFIT SHARING RATIO ( PSR) ONE SHOT Class 12th Accounts Revision Series

CHANGE IN PROFIT SHARING RATIO ( PSR) ONE SHOT Class 12th Accounts Revision Series Session 2024-25 Instagram Link : https://www.instagram.com/manojsharma... Q.1 X, Y and Z are sharing profits and losses in the ratio of 5:32. With effect from 1st April, 2024, they decide to share profits and losses equally. Calculate each partner's gain or sacrifice due to the change in ratio. [Ans.: Y gains 1/30th, Z gains 4/30th and X sacrifices 5/30th share.] Q.2 Ram, Laxman and Bharat who were sharing profits and losses in the ratio of 5:3: 2, decide to share profits and losses equally with effect from 1st April, 2024. Goodwill of the firm is valued at 4,50,000. Goodwill is appearing in the books is at 75,000. Pass necessary Journal entries to record the above change. Q.3 Mita, Gopal and Farhan were partners sharing profits and losses in the ratio 3: 2: 1. On 31st March, 2018 they decided to change the profit-sharing ratio to 5:3: 2. On this date, the Balance Sheet showed Deferred Advertisement Expenditure 30,000 and Contingency Reserve₹ 9,000. Goodwill was valued at 4,80,000. Pass the necessary Journal entries for the above transactions in the books of the firm on its reconstitution. (CBSE 2019) Q.4 . X, Y and Z are sharing profits and losses in the ratio of 5:3:2. They decide to share future profits and losses in the ratio of 2:3:5 with effect from 1st April, 2024. They also decide to record the effect of the following accumulated profits, losses and reserves without affecting their book values by passing a single entry. Book Values (*) General Reserve 6,000 Profit & Loss A/c (Credit) 24,000 Advertisement Suspense A/c 12,000 Pass an Adjustment Entry. [Ans.: Dr. Z's Capital A/c and Cr. X's Capital A/c by 5,400.]