Anubha and Yuvika were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : 2. From 1st April $\displaystyle 2024$, they decided to share future profits and losses in the ratio of $\displaystyle 2$ : 3. On this date, their balance sheet showed a balance of ₹ $\displaystyle 50,000$ in General Reserve and a debit balance of ₹ $\displaystyle 2,50,000$ in Profit and Loss Account. Partners decided to write off Profit and Loss Account but decided not to distribute the General Reserve. Pass the necessary journal entries for the above transactions on the reconstitution of the firm. Show your workings clearly.

Books of Anubha and Yuvika Journal Date Particulars L.F. Dr. Cr. Amount Amount (₹) (₹) $\displaystyle 2024$ Anubha’s Capital A/c Dr. $\displaystyle 1,50,000$ Apr.1 Yuvika’s Capital A/c Dr. $\displaystyle 1,00,000$ To Profit and Loss A/c $\displaystyle 2,50,000$ (Debit balance of profit and loss account debited to the partners in their old profit sharing ratio) Apr.1 Yuvika’s Capital A/c Dr. $\displaystyle 10,000$ To Anubha’s Capital A/c $\displaystyle 10,000$ (Adjustment of General reserve due to change in profit sharing ratio) Working Notes: Old ratio = $\displaystyle 3$:$\displaystyle 2$ New ratio= $\displaystyle 2$:$\displaystyle 3$ Sacrificed share= Old share- New share Sacrificed share of Anubha= $\displaystyle 3$/$\displaystyle 5$ -$\displaystyle 2$/$\displaystyle 5$= $\displaystyle 1$/$\displaystyle 5$ (sacrifice) Sacrificed share of Yuvika= $\displaystyle 2$/$\displaystyle 5$ -$\displaystyle 3$/$\displaystyle 5$= -$\displaystyle 1$/$\displaystyle 5$ (gain)