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A, B & C were sharing profits & losses in the ratio of 3: 2: 1. They decided to share profits & losses equal…

Q1

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 ₹60,000 . Goodwill was valued at ₹1,20,000. The partners do not want to disturb the general reserve.
The adjusting entry will be :

a

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

To C's Capital A/C 1,80,000

b

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

c

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

To A's Capital A/C 30,000

d

\({\mathrm{C}}^{'}\) 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

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