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P, Q and R were partners in a firm shari...

P, Q and R were partners in a firm sharing profits in `5:3:2` ratio. They decided to share the future profits in `2:3:5.` For this purpose the goodwill of the firm was valued at Rs 1,20,000. In adjustment entry for the treatment of goodwill due to change in the profit sharing ratio.

A

Cr. P by Rs 24,000, Dr. R by Rs 24,000

B

Cr. P by Rs60,000, Dr. R by Rs60,000

C

Cr. P by Rs36,000, Dr. R by Rs 36,000

D

Dr. P by Rs36,000, Cr. R by Rs 36,000

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The correct Answer is:
D
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DK GOEL-CHANGE IN PROFIT SHARING RATIO AMONG THE EXISTING PARTNERS -HOTS
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  5. The net assets of a firm including fictitious assets of Rs 5,000 are ...

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  6. Total Capial employed in the firm is Rs8,00,000, reasonable rate of re...

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  7. The average capital employed of a firm is Rs 4,00,000 and the normal ...

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  8. A firm earn Rs 1,10,000. The normal rate of return is 10%. The assets...

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  9. Capital invested in a firm is Rs 5,00,000. Normal rte of return is 10%...

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  10. P and Q were partners sharing profits and losses in the ratio of 3:2. ...

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  11. A, B and C partners sharing profits in the ratio of 4:3:2 decided to...

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  12. A, B and C were partners sharing profits and losses in the ratio of 7:...

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  13. P, Q and R were partners in a firm sharing profits in 5:3:2 ratio. The...

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  14. A, B and C are partners in a firm sharing profits in the tatio of 3:4:...

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  15. A, B and C are partner sharing profits in the ratio of 1:2:3. On 1-4-2...

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  16. X, Y and Z are partners in a firm sharing profits in the ratio 4:3:2. ...

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  17. Arun and Varun are partners sharing profits in the ratio of 4:3. Their...

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  18. X, Y and Z are partners in a firm sharing profits in the ratio of 3:2:...

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  19. X, Y and Z are partners sharing profits and losses in the ratio 5:3:2...

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  20. Any change in the relationship of existin g partners which results in ...

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