Question : A, B and C are equal partners in a firm whose books are closed on 31st March every year. If General Reserve of Rs. 40,000 at the time of retirement of partner B when 25% of the balance of General Reserve is to be transferred to Investments Fluctuation Reserve. Choose the correct option.

Option 1: General Reserve A/c ...Dr. 40,000
To A's Capital A/c 10,000
To B's Capital A/c 10,000
To C's Capital A/c 10,000
To Investments Fluctuation Reserve A/c 10,000

Option 2: General Reserve A/c ...Dr. 40,000
To A's Capital A/c 20,000
To B's Capital A/c 10,000
To C's Capital A/c 10,000

Option 3: General Reserve A/c ...Dr. 40,000
To A's Capital A/c 10,000
To C's Capital A/c 10,000
To Investments Fluctuation Reserve A/c 20,000

Option 4: None of the above

Question : A, B and C are partners sharing profits in the ratio of 3: 2: 1. On March 31, 2018, C died and a new profit-sharing ratio was agreed upon at 3: 1. They also decided to record the effect of the following without affecting their book values: 
General Reserve

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Question : A, B and C are partner sharing profits in the ratio of equally On 1-4-2020 they decided to share the profits 2:4:6. On the date there was a credit balance of  Rs 1,00,000 in their Profit and Loss Account and a balance of  Rs 2,00,000 in General Reserve Account.