Anu, Manu, Sonu and Rohan were partners in a firm sharing profits and losses in the ratio of $\displaystyle 1$ : $\displaystyle 2$ : $\displaystyle 1$ : 2. With effect from 1st April, $\displaystyle 2023$, they decided to share profits and losses in the ratio of $\displaystyle 2$ : $\displaystyle 4$ : $\displaystyle 1$ : 3. Their Balance Sheet showed General Reserve of ₹ $\displaystyle 90$,000. The goodwill of the firm was valued at ₹ $\displaystyle 4,50$,000. Pass necessary journal entries for the above on account of change in the profit sharing ratio. Show your working clearly.

Books of Anu, Manu, Sonu and Rohan Journal Date Particulars L.F Dr. Amount Cr. Amount ₹ ₹ $\displaystyle 2023$ General Reserve A/c Dr $\displaystyle 90,000$ April $\displaystyle 1$ To Anu’s Capital A/c $\displaystyle 15,000$ To Manu’s Capital A/c $\displaystyle 30,000$ To Sonu’s Capital A/c $\displaystyle 15,000$ To Rohan’s Capital A/c $\displaystyle 30,000$ (Distribution of General Reserve in old profit-sharing ratio) $\displaystyle 2023$ Anu’s Capital A/c Dr $\displaystyle 15,000$ April $\displaystyle 1$ Manu’s Capital A/c Dr $\displaystyle 30,000$ To Sonu’s Capital A/c $\displaystyle 30,000$ To Rohan’s Capital A/c $\displaystyle 15,000$ (Adjustment for Goodwill on account of change in profit sharing ratio) Working notes: Calculation of gain/ sacrifice Gaining Share= New share- Old share Anu = $\displaystyle 2$/$\displaystyle 10$- $\displaystyle 1$/$\displaystyle 6$ = $\displaystyle 1$/$\displaystyle 30$ (Gain) Manu = $\displaystyle 4$/$\displaystyle 10$- $\displaystyle 2$/$\displaystyle 6$ = $\displaystyle 2$/$\displaystyle 30$ (Gain) Sonu = $\displaystyle 1$/$\displaystyle 10$- $\displaystyle 1$/$\displaystyle 6$ = -$\displaystyle 2$/$\displaystyle 30$ (Sacrifice) Rohan = $\displaystyle 3$/$\displaystyle 10$- $\displaystyle 2$/$\displaystyle 6$ = -$\displaystyle 1$/$\displaystyle 30$ (Sacrifice)