Aman, Govind and Guru were partners in a firm sharing profits and 1th 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 $\displaystyle 1$ 2th of the new firm was agreed upon as ₹ $\displaystyle 3,60$,000. Sudarshan will bring Z 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, i $\displaystyle 3$ Govind and Guru after all adjustments stood at ₹ $\displaystyle 60,000$, ₹ $\displaystyle 80,000$ and $\displaystyle 2$ $\displaystyle 45,000$ 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 ₹$\displaystyle 15,000$