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प्रश्न
Mita, Geeta and Mohit were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. With effect from 1st April 2022, they mutually agreed to share profits and losses in the ratio of 2:2:1. It was agreed that:
- Goodwill of the firm was valued at ₹ 1,40,000.
- Profit on revaluation of assets and re-assessment of liabilities amounted to ₹ 1,20,000.
Pass necessary journal entries for the above transactions in the books of the firm. Show your working notes clearly.
उत्तर
Old Ratio = 5 : 3 : 2
New Ratio = 2 : 2 : 1
Gain in Ratio = New Ratio - Old Ratio
Mita =`2/5-5/10=(4-5)/10=(-1)/10`(Sacrifice)
Geeta =`2/5 - 3/10=(4-3)/10 =1/10`(Gain)
Mohit =`1/5-2/10= ` Nil
Goodwill = `1,40,000xx1/10 = ₹ 14,000`
| Journal Entries | ||||
| Date | Particulars | L.F | Debit (₹) | Credit (₹) |
| (i) | Geeta's Capital A/c ...Dr. | 14,000 | - | |
| To Mita's Capital A/c | - | 14,000 | ||
| (Being goodwill adjusted) | ||||
| (ii) | Revaluation A/c ...Dr. | 1,20,000 | - | |
| To Mita's Capital A/c | - | 60,000 | ||
| To Geeta's Capital A/c | - | 36,000 | ||
| To Mohit's Capital A/c | - | 24,000 | ||
| (Being profit on revaluation distributed) | ||||
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| Balance Sheet as on 31st March 2018 | |||||
| Liabilities | Amount ₹ | Assets | Amount ₹ | ||
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||||
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| Capital A/cs: | Fixed Assets (Tangible) |
3,60,000 | |||
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4,000 | ||
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| 6,45,000 | 6,45,000 |
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