Aastha, Diya and Mohit were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 3$ : 2. On 31st March, $\displaystyle 2025$ their Balance Sheet was as follows : Balance Sheet of Aastha, Diya and Mohit as at 31st March, $\displaystyle 2025$ Amount Amount Liabilities Assets ( ) ( ) Capitals : Patents $\displaystyle 2,50,000$ Aastha $\displaystyle 2,20,000$ Land and Building $\displaystyle 4,76,000$ Diya $\displaystyle 3,10,000$ Stock $\displaystyle 1,34,000$ Mohit $\displaystyle 4,00,000$ $\displaystyle 9,30,000$ Debtors $\displaystyle 95,000$ General Reserve $\displaystyle 50,000$ Cash at bank $\displaystyle 45,000$ Creditors $\displaystyle 20,000$ $\displaystyle 10,00,000$ $\displaystyle 10,00,000$ Aastha retired from the firm on the above date on the following terms : (i) Goodwill of the firm was valued at $\displaystyle 2,00,000$ and the same was to be treated without opening goodwill account. (ii) Revaluation of assets and reassessment of liabilities resulted in a loss of $\displaystyle 60$,000. (iii) Amount payable to Aastha was transferred to her loan account. Pass necessary journal entries for goodwill, general reserve and revaluation of assets and reassessment of liabilities on Aastha's retirement.

Books of Aastha, Diya and Mohit Journal Date Particulars L.F. Dr. Cr. Amount(₹) Amount(₹) $\displaystyle 2025$ Diya’s Capital A/c Dr. $\displaystyle 60,000$ March $\displaystyle 31$ Mohit’s Capital A/c Dr. $\displaystyle 40,000$ To Aastha’s Capital A/c $\displaystyle 1,00,000$ (Adjustment entry made for goodwill) General Reserve A/c Dr. $\displaystyle 50,000$ To Aastha’s Capital A/c $\displaystyle 25,000$ ,, To Diya’s Capital A/c $\displaystyle 15,000$ To Mohit’s Capital A/c $\displaystyle 10,000$ (General reserve transferred to all partners in old ratio) ,, Aastha’s Capital A/c Dr. $\displaystyle 30,000$ Diya’s Capital A/c Dr. $\displaystyle 18,000$ Mohit’s Capital A/c Dr. $\displaystyle 12,000$ To Revaluation A/c $\displaystyle 60,000$ (Loss on revaluation transferred to all partners in old ratio)