Namita, Narendra and Kunwar were partners in a firm sharing profits and losses in the ratio of 3: 1: 1. The firm closes its books on 31st March every…

Books of Namita, Narendra and Kunwar Journal Date Particulars L Dr. Cr. . Amount(₹) Amount(₹) F. $\displaystyle 2025$ Sept. $\displaystyle 30$ Profit and Loss Suspense A/c Dr. $\displaystyle 15,600$ To Kunwar’s Capital A/c $\displaystyle 15,600$ ( Kunwar’s share in profits transferred to his capital A/c) ,, General Reserve A/c Dr. $\displaystyle 40,000$ To Namita’s Capital A/c $\displaystyle 24,000$ To Narendra’s Capital A/c $\displaystyle 8,000$ To Kunwar’s Capital A/c $\displaystyle 8,000$ (General reserve transferred to all partners’ capital A/cs in old ratio) ,, Namita’s Capital A/c Dr. $\displaystyle 48,000$ Narendra’s Capital A/c Dr. $\displaystyle 16,000$ Kunwar’s Capital A/c Dr. $\displaystyle 16,000$ To Profit and Loss A/c $\displaystyle 80,000$ (Dr. balance of profit and loss A/c transferred to all partners in old ratio)