Accountancy > Accounting For Partnership Firms > Change In Profit Sharing Ratio
Success Rate: 0%
Single Question
(a) G and M were partners in a firm sharing profits in the ratio of 4 : 1. With effect from 1st April, 2024 they decided to share profits in the ratio of 3 : 2. On that date Workmen Compensation Reserve appeared in the books of the firm at ₹ 50,000. A claim of ₹ 20,000 on account of Workmen Compensation was admitted. In the necessary journal entry to record the above, G's Capital account will be:
Keep Practicing
Edvaya Target
Board & Competitive Exams Made Easy
Edvaya Target is built for students preparing for JEE (Main & Advanced), NEET UG, and Board Exams (CBSE, ISC & State Boards) — using a practice-first approach that actually works.
Current Question
Attempts0/3
StatusNot Answered
Ready to Answer! 🚀
Community Stats
Active Learners30
Questions Attempted560
Community Success Rate71%
Track Your Progress
Sign up to save your practice progress, add favorites, and get personalized insights.