Change in profit sharing ratio class 12th accounts T.S.Grewal Question 19 & 20 Session 2026-27

Change in profit sharing ratio class 12th accounts T.S.Grewal Question 19 & 20 ( Treatment of accumulated reserves) Session 2026-27 1. T.S. Grewal Class 12 | Q19 & 20 | General Reserve & Goodwill Journal Entry | Ch 3 Partnership 2. Class 12 Accounts: General Reserve Distribution & Goodwill Valuation | T.S. Grewal Q19, 20 Solved 3. Change in Profit Sharing Ratio | Journal Entry for General Reserve & Goodwill | T.S. Grewal Ch 3 T.S. Grewal Question 19 & 20", "General Reserve", "Goodwill valuation Instagram Link : https://www.instagram.com/manojsharma... 19. Anu, Manu, Sonu and Rohan were partners in a firm sharing profits and losses in the ratio of 1:2:1:2. With effect from 1st April, 2023, they decided to share profits and losses in the ratio of 2: 4:13. Their Balance Sheet showed General Reserve of 90,000. The goodwill of the firm was valued at 4,50,000. Pass necessary Journal entries for the above on account of change in the profit-sharing ratio. Show your working clearly. 15,000; Manu's Capital A/c by 30,000; 15,000; Rohan's Capital A/c by 30,000. Ans.: (i) Dr. General Reserve A/c by 90,000; Cr. Anu's Capital A/c by Sonu's Capital A/c by 15,000; Manu's Capital A/c by 30,000; (ii) Dr. Anu's Capital A/c by 30,000; Rohan's Capital A/c by 15,000 Cr. Sonu's Capital A/c by (iii) Anu's Gain = 1/30; Manu's Gain = 2/30; Sonu's Sacrifice = 2/30; Rohan's Sacrifice = 1/30.] 20. Soham, Ashish, Vishesh and Rashi were partners in a firm sharing profits and losses in the ratio of 4:3:2:1. With effect from 1st April, 2023, they decided to share profits and losses in the ratio of 2:1:1: 1. Their Balance Sheet showed a General Reserve of 80,000. The goodwill of the firm was valued at 5,00,000. Pass necessary Journal entries for the above on account of change in the profit-sharing ratio. Show your working clearly. (CBSE 2024) (Ans.: (i) Dr. General Reserve A/c by 80,000; Cr. Soham's Capital A/c by 32,000; Ashish's Capital A/c by 24,000; Vishesh's Capital A/c by 16,000; Rashi's Capital A/c by 8,000. (ii) Dr. Rashi's Capital A/c and Cr. Ashish's Capital A/c by 50,000 (₹5,00,000 × 1/10). Soham's Sacrifice/Gain = Nil; Ashish's Sacrifice = 1/10; Vishesh's Sacrifice/Gain = Nil; Rashi's Gain = 1/10.] #msacademyaccounts #psr