Kartik, Inder and Lalit were partners in a firm sharing profits and losses in the ratio of 4: 3: 2. With effect from 1st April, 2024, they decided to…

Kartik, Inder and Lalit were partners in a firm sharing profits and losses in the ratio of $\displaystyle 4$ : $\displaystyle 3$ : 2. With effect from 1st April, $\displaystyle 2024$, they decided to share profits and losses in the ratio of $\displaystyle 2$ : $\displaystyle 3$ : 4. For this purpose, the goodwill of the firm was valued at ₹ $\displaystyle 1{,}80$,000. The necessary journal entry to show the effect of the above will be : Dr. Cr. Particulars Amount Amount (?) (€)

Nidhi, Pranav and shu were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 4$ : 1. With effect from 1st April, $\displaystyle 2024$, they decided to share profits and losses in the ratio of $\displaystyle 4$ : $\displaystyle 1$ : 5. On that date, there was a debit balance of ₹ $\displaystyle 4{,}00{,}000$ in the Profit and Loss Account. The necessary journal entry to show the effect of the above will be : Dr. Cr. Particulars Amount Amount ($\displaystyle 1$) (?)