Date
|
Particulars
|
Debit
|
Credit
|
General Reserve A/c Dr.
|
50000
|
||
To P's Capital A/c
|
20000
|
||
To Q's Capital A/c
|
20000
|
||
To R's Capital A/c
|
10000
|
||
(Being Reserve distributed)
|
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P,Q and R are partners in a firm sharing profits in the ratio of 2:2:1 on 1.4.2007 the partners decided to share future profits in the ratio of 3:2:1 on that day balance sheet of the firm shows General Reserve of Rs 50,000. Pass entry for distribution of reserve.
Ans.