Alok, Sameer and Tushar were partners in a firm sharing profits and losses in the ratio of $\displaystyle 4$ : $\displaystyle 3$ : 2. With effect from 1st April, $\displaystyle 2024$, they decided to share future profits and losses in the ratio of $\displaystyle 3$ : $\displaystyle 2$ : 4. Their Balance Sheet as at 31st March, $\displaystyle 2024$ showed the following : (i) Advertisement Suspense Account ₹ $\displaystyle 90$,000. (ii) Credit Balance of ₹ $\displaystyle 2,70,000$ in Profit and Loss Account. Goodwill of the firm was valued at ₹ $\displaystyle 4,50,000$ and revaluation of assets and liabilities resulted in a loss of ₹ $\displaystyle 1,80$,000. Partners did not want to distribute the amount of Advertisement Suspense Account and the Profit and Loss Account. They also decided that revalued values of assets and liabilities were not to be recorded in the books. Pass a single adjustment entry to give effect to the above. Also show your workings clearly.

JOURNAL Date Particulars L.F. Dr. Cr. `) `) Amount ( Amount ( $\displaystyle 2024$ Tushar’s Capital A/c Dr. $\displaystyle 1,00,000$ April $\displaystyle 1$ To Alok’s Capital A/c $\displaystyle 50,000$ To Sameer’s Capital A/c $\displaystyle 50,000$ (Adjustment entry due to change in profit sharing ratio) Working Notes Old Ratio = Alok : Sameer : Tushar = $\displaystyle 4$:$\displaystyle 3$:$\displaystyle 2$ New Ratio = Alok : Sameer : Tushar = $\displaystyle 3$:$\displaystyle 2$:$\displaystyle 4$ Sacrificing Share = Old Share – New Share Alok’s Sacrificing Share = $\displaystyle 4$/$\displaystyle 9$ – $\displaystyle 3$/$\displaystyle 9$ = $\displaystyle 1$/$\displaystyle 9$ (sacrifice) Sameer’s Sacrificing Share = $\displaystyle 3$/$\displaystyle 9$ – $\displaystyle 2$/$\displaystyle 9$ = $\displaystyle 1$/$\displaystyle 9$ (sacrifice) Tushar’s Sacrificing Share = $\displaystyle 2$/$\displaystyle 9$ – $\displaystyle 4$/$\displaystyle 9$ = -$\displaystyle 2$/$\displaystyle 9$ (gain) Particulars ` Advertisement Suspense Account $\displaystyle (90,000)$ Credit Balance of Profit and Loss Account $\displaystyle 2,70,000$ Goodwill of the firm $\displaystyle 4,50,000$ Revaluation Loss ($\displaystyle 1,80,000$) Total $\displaystyle 4,50,000$ Alok Sacrifices = $\displaystyle 1$/$\displaystyle 9$ x $\displaystyle 4,50,000$ = ` $\displaystyle 50,000$, Sameer Sacrifices = $\displaystyle 1$/$\displaystyle 9$ x $\displaystyle 4,50,000$ = ` $\displaystyle 50,000$, Tushar Gains = $\displaystyle 2$/$\displaystyle 9$ x $\displaystyle 4,50,000$ = ` $\displaystyle 1,00$,000.