Back to Categories
Question 1 of 18
Accountancy > Accounting for Partnership Firms > Change In Profit Sharing Ratio
Progress: 0%
Success Rate: 0%
Question 1
Dan, Elf and Furhan were partners in a firm sharing profits in the ratio of 5:3:2. With effect from 1st April, 2023, they decided to change their profit sharing ratio to 2:3:5. There existed a General Reserve of ₹90,000 on the date of change in profit sharing ratio. The partners decided not to distribute General Reserve. The necessary adjustment entry to show the effect of the above will be:
0 of 18 answered
Current Session
Questions Answered0
Correct Answers0
Session Success Rate0%
Ready to Start! 🚀
Community Stats
Active Learners31
Questions Attempted604
Community Success Rate70%
Track Your Progress
Sign up to save your practice progress and get personalized insights across all topics.