K, N and P are partners sharing profits and losses in the ratio of 4 : 3 : 2. N retires and the goodwill is valued at Rs. 72,000. K and P decided to…
CUET UG 2025 — Accountancy Partnership
K, N and P are partners sharing profits and losses in the ratio of 4 : 3 : 2. N retires and the goodwill is valued at Rs. 72,000. K and P decided to share future profits and losses in the ratio of 5 : 3. Identify the correct journal entry in this scenario.
Held on 27 May 2025 · Verified 13 Jul 2026.
Options
- A
K's Capital A/c Dr. 13,000
P's Capital A/c Dr. 11,000
To N's Capital A/c 24,000 - B
K's Capital A/c Dr. 12,000
P's Capital A/c Dr. 10,000
To N's Capital A/c 22,000 - C
K's Capital A/c Dr. 14,000
P's Capital A/c Dr. 12,000
To N's Capital A/c 26,000 - D
K's Capital A/c Dr. 15,000
P's Capital A/c Dr. 13,000
To N's Capital A/c 28,000
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