Q49. State journal entry to be passed of treatment of general reserve.

Q: What is the correct answer for CUET UG Accounting Q49?

The correct answer is B. Journal Entry for transfer of General Reserve: General Reserve A/c Dr. 6,000 To Azad's Capital 4,000 To Babli's Capital 2,000. This is because the general reserve is distributed among the old partners in their old profit sharing ratio of 2:1. 6000 * (2/3) = 4000 for Azad, and 6000 * (1/3) = 2000 for Babli.

Q: Q49. State journal entry to be passed of treatment of general reserve.

The correct answer is B. Journal Entry for transfer of General Reserve: General Reserve A/c Dr. 6,000 To Azad's Capital 4,000 To Babli's Capital 2,000. This is because the general reserve is distributed among the old partners in their old profit sharing ratio of 2:1. 6000 * (2/3) = 4000 for Azad, and 6000 * (1/3) = 2000 for Babli.

Q: What are the options for this CUET UG Accounting question?

A. Debit Azad's capital A/c ₹4,000 Babli's capital A/c ₹2,000 Credit Chintan's Capital A/c 6,000 · B. Debit General Reserve A/c ₹6,000 Credit Azad's Capital A/c 4,000; Babli's Capital A/c 2,000 · C. Debit General Reserve A/c ₹6,000 Credit Azad's Capital A/c ₹3,000; Babli's Capital A/c 1,500; Chinta's Capital A/c ₹1,500 · D. Debit Chintan's Capital A/c 6,000 Credit Azad's Capital A/c ₹4,000; Babli's Capital A/c 2,000

Question

Q49. State journal entry to be passed of treatment of general reserve.

FirstInTest · Accepted Answer

Journal Entry for transfer of General Reserve: General Reserve A/c Dr. 6,000 To Azad's Capital 4,000 To Babli's Capital 2,000. This is because the general reserve is distributed among the old partners in their old profit sharing ratio of 2:1. 6000 * (2/3) = 4000 for Azad, and 6000 * (1/3) = 2000 for Babli.

Answer

Debit Azad's capital A/c ₹4,000 Babli's capital A/c ₹2,000 Credit Chintan's Capital A/c 6,000

Answer

Debit General Reserve A/c ₹6,000 Credit Azad's Capital A/c 4,000; Babli's Capital A/c 2,000

Answer

Debit General Reserve A/c ₹6,000 Credit Azad's Capital A/c ₹3,000; Babli's Capital A/c 1,500; Chinta's Capital A/c ₹1,500

Answer

Debit Chintan's Capital A/c 6,000 Credit Azad's Capital A/c ₹4,000; Babli's Capital A/c 2,000

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