Question No 15 of TS Grewal (CBSE)

X, Y and Z who were sharing profits and losses in the ratio of 5: 3: 2 decided to share future profits in the ratio of 2:3:5. Give the Journal entry to distribute “Workmen Compensation Reserve of Rs. 1,20,000 at the time of change in profit- sharing ratio, when there is claim of Rs. 80,000 against it.

Solution No 15 of TS Grewal (CBSE)

error: Content is protected !!