Question : Bina and Tina are partners sharing profit and losses in the ratio of 3:2. They changed their profit-sharing ratio to 5:3 w.e.f 1st April 2020. The assets were revalued and liabilities were re-assessed on that date which resulted in a Loss of Rs 80,000. It will be transferred to their capital account by
Option 1: Debiting Bina's capital account and crediting Tina’s capital account by Rs 16,000
Option 2: Debiting Bina’s capital account by Rs 48,000 and Tina’s capital account by Rs 32,000
Option 3: Debiting Bina’s capital account and crediting Tina’s capital account by Rs 40,000
Option 4: Crediting Bina ‘s capital account by Rs 48,000 and Tina’s capital account by Rs 32,000
Correct Answer: Debiting Bina’s capital account by Rs 48,000 and Tina’s capital account by Rs 32,000
Solution : Answer = Debiting Bina’s capital account by Rs 48,000 and Tina’s capital account by Rs 32,000
Bina's Capital A/c Dr 48000
Tina's Capital A/c Dr 32000
To Revaluation (Loss) 80,000
(Old Ratio =3:2)
Hence, the correct option is 2.