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 State the ‘liability of a partner’ in a partnership firm.(C.B.S.E. 2019. Delhi) September 23, 2022 X and Y share profits in the ratio of 5 : 3. Their Balance Sheet as at 31st March, 2019 was: August 1, 2022 Why partner’s loan is not transferred to Realisation A/c? September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X and Y share profits in the ratio of 5 : 3. Their Balance Sheet as at 31st March, 2019 was: August 1, 2022
