Change in PSR 13
Raka, Seema and Mahesh were partners sharing profits and losses in the ratio of 5:3:2. With effect from 1st April, 2019, they mutually agreed to share profits and losses in the ratio of 2:2:1. On that date, there was a workmen’s compensation fund of Rs. 90,000 in the books of the firm. It was agreed … Read more