Question Description
P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared
according to
the Commerce exam syllabus. Information about P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)? covers all topics & solutions for Commerce 2024 Exam.
Find important definitions, questions, meanings, examples, exercises and tests below for P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)?.
Solutions for P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)? defined & explained in the simplest way possible. Besides giving the explanation of
P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)?, a detailed solution for P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)? has been provided alongside types of P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)? theory, EduRev gives you an
ample number of questions to practice P, Q and R are on partnership term sharing profits and losses in the ratio 6:3:1. They decided to take S into
partnership with effect from 1st April 2017. The new profit sharing ratio between P, Q, R, and S will be
3:3:3:1. They also decided to record the effect of the following without affecting the books figures (after the
required adjustment from workmen compensation reserve and investment fluctuation reserve) by passing
single adjustment entry.
General reserve - 1,20,000 Contingent reserve -20,000
Profit and Loss A/c (Cr) -60,000 Advertisement suspense A/c -50,000
Workmen compensation reserve - 20,000 Investment fluctuation reserve -10,000
Additional Information
a) Claim on account of Workmen compensation reserve is 10,000
b) Book Value of investment is 50,000(market value 45,000) Related: New Profit Sharing and Sacrificing Ratio (Part A)? tests, examples and also practice Commerce tests.