Chaitanya and Divya were partners in a firm sharing profits and losses in the ratio of 2: 1. From 1st April 2025, they decided to share future…

Books of Chaitanya and Divya Journal Date Particulars L.F. Dr. Cr. Amount Amount (₹) (₹) $\displaystyle 2025$ General Reserve A/c Dr. $\displaystyle 90,000$ April $\displaystyle 1$ To Chaitanya’s Capital A/c $\displaystyle 60,000$ To Divya’s Capital A/c $\displaystyle 30,000$ (General Reserve distributed among the partners in their old profit-sharing ratio) April $\displaystyle 1$ Chaitanya’s Capital A/c Dr. $\displaystyle 48,000$ To Divya’s Capital A/c $\displaystyle 48,000$ (Adjustment entry passed for debit balance of Profit and loss account) Calculation of Sacrificing share: Sacrificing Share = Old Share – New Share Chaitanya = $\displaystyle 2$/$\displaystyle 3$ – $\displaystyle 2$/$\displaystyle 5$ = $\displaystyle 4$/$\displaystyle 15$ sacrifice Divya = $\displaystyle 1$/$\displaystyle 3$ – $\displaystyle 3$/$\displaystyle 5$ = ($\displaystyle 4$/$\displaystyle 15$) gain