Aman, Govind and Guru were partners in a firm sharing profits and l th losses in the ratio of $\displaystyle 3$ : $\displaystyle 2$ : 1. Sudarshan was admitted for share in $\displaystyle 4$ the profits of the firm. The new profit sharing ratio between Aman, Govind, Guru and Sudarshan was agreed at $\displaystyle 9$ : $\displaystyle 5$ : $\displaystyle 4$ : 6. The total capital of the new firm was agreed upon as ₹ $\displaystyle 3,60$,000. Sudarshan will bring 1th $\displaystyle 4$ of this as his capital. The capitals of the other partners were also to be adjusted according to the new profit sharing ratio. The capitals of Aman, Govind and Guru after all adjustments stood at ₹ $\displaystyle 60,000$, ₹ $\displaystyle 80,000$ and ₹ $\displaystyle 45,000$ respectively. Calculate the new capitals of Aman, Govind and Guru. Also pass necessary journal entries for the above transactions in the books of the firm.

Calculation of New Capitals of partners: New Firm’s Capital ₹$\displaystyle 3,60,000$ in new ratio $\displaystyle 9$:$\displaystyle 5$:$\displaystyle 4$:$\displaystyle 6$ Aman = $\displaystyle 9$/$\displaystyle 24$ x $\displaystyle 3,60,000$= ₹$\displaystyle 1,35,000$ Govind =$\displaystyle 5$/$\displaystyle 24$ x $\displaystyle 3,60,000$= ₹$\displaystyle 75,000$ Guru =$\displaystyle 4$/$\displaystyle 24$ x $\displaystyle 3,60,000$= ₹$\displaystyle 60,000$ Sudarshan =$\displaystyle 6$/$\displaystyle 24$ x $\displaystyle 3,60,000$ =₹$\displaystyle 90,000$ Books of Aman, Guru, Govind & Sudarshan Journal Date Particulars L.F Dr. Amount Cr. Amount ₹ ₹ Cash A/c / Bank A/c Dr. $\displaystyle 1,80,000$ To Sudarshan’s Capital A/c $\displaystyle 90,000$ To Aman’s Capital A/c $\displaystyle 75,000$ To Guru’s Capital A/c $\displaystyle 15,000$ (Cash brought in by Sudarshan for capital and by Aman & Guru for capital adjustment) Govind’s Capital A/c Dr. $\displaystyle 5,000$ To Cash A/c $\displaystyle 5,000$ (Cash paid to Govind) Working notes: Calculation of amount of cash to be brought into the firm or to be paid to the partners: Aman Govind Guru New capital ₹$\displaystyle 1,35,000$ ₹$\displaystyle 75,000$ ₹$\displaystyle 60,000$ Adjusted capital ₹$\displaystyle 60,000$ ₹$\displaystyle 80,000$ ₹$\displaystyle 45,000$ Brought ₹$\displaystyle 75,000$ Paid ₹$\displaystyle 5,000$ Brought ₹$\displaystyle 15,000$