+2 votes
in Class 12 by kratos

A, B and C’* profit sharing ratio is 1 : 2 : 2. Before debiting realization loss partners capital account balance are Rs 3,000 (Dr.), Rs 6,000 (Cr.) and Rs 2,000 (Cr.) and realization loss 5,000. A became insolvent, give journal entry for bearing deficiency of A.

1 Answer

+5 votes
by kratos
 
Best answer

B’ Capital A/C Dr. 3000
C’
Capital A/c Dr. 1000
To A’ Capital A/C 4,000
(Deficiency of A’
amount bear by B and C their capital ratio.)

...