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in Class 12 by kratos

Kumar, Verma and Naresh were partners in a firm sharing Profit and Loss in the ratio of 3: 2: 2. On 23rd January, 2015 Verma . Verma’ share of profit till the date of his was calculated at Rs.2,350. Pass necessary Journal entry for the same in the books of the firm.

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+1 vote
by kratos
 
Best answer

The journal entry for transferring verma'* share of profit to his capital account is given below.

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