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Question : R, S and T are partners. Before changing their profit-sharing ratio to 5:3:2, they were sharing profit equally. Workmen's compensation reserve exited at Rs 1,00,000 against which a claim existed at Rs 20,000. The total amount that will be credited to their capital accounts in their old profit-sharing ratio will be?

Option 1: Rs 1,00,000

Option 2: Rs 80,000

Option 3: Rs 1,00,000 credited and Rs 20,000 debited 

Option 4: Rs 20,000 credited and Rs 1,00,000 debited 


Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Rs 80,000


Solution : Answer = Rs 80,000

Workmen's Compensation Reserve A/c Dr 1,00,000

To Claim for Compensation A/c 20,000

To R's Capital A/c 40,000

To S's Capital A/c 24,000

To T's Capital A/c 16,000

(old ratio = 5:3:2)
Hence, the correct option is 2.

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