Question No 28 of TS Grewal (CBSE)
Pinky and Rocky are partners in a firm sharing profit in the ratio of 3:2. Their Balance Sheet as at 31st March, 2025 was as follow:
Liabilities | Rs. | Assets | Rs. |
Pinky’s Capital A/c Rocky’s Capital A/c Creditors | 54,000 36,000 36,000 1,26,000 | Cash Machinery Building | 18,000 36,000 72,000 1,26,000 |
Goodwill of the firm is valued at Rs. 36,000 and the building at Rs. 90,000 on 31st March, 2025, The partners decide to share profits equally with effect from 1st April, 2025. Pass the necessary accounting entries without affecting the existing figure of building
Solution No 28 of TS Grewal (CBSE)
