Give the journal entry to distribute General Reserve and Profit and Loss Account balance appearing on the liabilities side of Balance Sheet. Post category:Accountancy Reading time:1 mins read SOLUTION General Reserve A/c Dr.Profit and Loss A/c Dr. To Old Partner’s Capital A/cs(In old Ratio) Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat are accumulated losses? Next PostState the need for treatment of Goodwill on admission of a partner. You Might Also Like How can a new partner be admitted? September 26, 2022 Distinguish between ‘Over-Subscription’ and ‘Under-Subscription’. September 28, 2022 What is meant by a Debenture? September 29, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
