A, B & C were sharing profits & losses in the ratio of 3 : 2 : 1. They decided to share profits & losses equally in future. General reserve was appearing in their books at Rs. 60,000. Goodwill was valued at Rs. 1,20,000. The partners do not want to disturb the general reserve. The adjusting entry will be :

Question

Accepted Answer

C's capital A/C Dr. 30,000 To A's Capital A/C 30,000

Answer

A's capital A/C Dr. 1,80,000 To C's Capital A/C 1,80,000

Answer

A's capital A/C Dr. 1,80,000 To B's Capital A/C 1,20,000 To C's Capital A/C 60,000

Answer

C's capital A/C Dr. 1,80,000 To A's Capital A/C 1,20,000 To B's Capital A/C 60,000

Solution

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