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  5. Change in Profit Sharing Ratio Among Existing Partner

12th Class Accountancy Change in Profit Sharing Ratio Among Existing Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Change in Profit Sharing Ratio

  • question_answer
    Red, Blue and White were partners in a firm sharing profits in the ratio of 1 : 2 : 2. They decided to share future profits in the ratio of 7 : 5 : 3 with effect from 1st April, 2019. Their balance sheet as on that date showed a balance of Rs. 22,500 in deferred revenue expenditure account. The amount to be debited respectively to the capital accounts of Red, Blue and White for writing-off deferred revenue expenditure will be:                                                                                                                                                                                                                                     (CBSE 2020)

    A) Rs. 7,500, Rs. 7,500 and Rs. 7,500

    B) Rs. 4,500, Rs. 9,000 and Rs. 9,000

    C) Rs. 10,500, Rs. 7,500 and Rs. 4,500

    D) Rs. 11,250, Nil and Rs. 11,250

    Correct Answer: B

    Solution :

    [b] Rs. 4,500, Rs. 9,000 and Rs. 9,000 Hint:
     
    Particulars
    Red's Capital A/c       Dr. (22,500 \[\times \] 1/5)
    Blue's Capital A/c (22,500 \[\times \] 2/5)          Dr.
    White's Capital A/c (22,500 \[\times \] 2/5)          Dr.
    To Deferred Revenue Expenditure A/c 
       


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