Anmol, Badal and Cheenu were partners in a firm sharing profits and losses in the ratio of 5: 4: 3. Badal retired. Anmol and Cheenu decided to share…

Gain = New share – Old Share Anmol’s Gain= $\displaystyle 1$/$\displaystyle 3$ - $\displaystyle 5$/$\displaystyle 12$ = -$\displaystyle 1$/$\displaystyle 12$ (sacrifice) Cheenu’s Gain = $\displaystyle 2$/$\displaystyle 3$ - $\displaystyle 3$/$\displaystyle 12$ = $\displaystyle 5$/$\displaystyle 12$ (gain) In the books of Anmol, Badal and Cheenu Journal Date Particulars L.F Dr. Amount Cr. Amount (₹) (₹) Cheenu’s Capital A/c Dr. $\displaystyle 50{,}000$ To Anmol’s Capital A/c $\displaystyle 10{,}000$ To Badal’s Capital A/c $\displaystyle 40{,}000$ (Goodwill treated on Badal’s retirement without opening Goodwill account)