Rani, Manav and Pushpa were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 3$ : 2. On 1st April, $\displaystyle 2024$, Rani decided to retire from the firm. On that day, the balance in her capital account after making necessary adjustments on account of reserves, revaluation of assets and reassessment of liabilities was ₹ $\displaystyle 3,08$,000. Manav and Pushpa agreed to pay her $\displaystyle 3,80,000$ in full settlement of her claim. Calculate Rani's share of goodwill and pass the necessary journal entry for the same.

Calculation of Rani’s share of Goodwill:- (₹) Amount agreed to be paid in full settlement = $\displaystyle 3,80,000$ Less: Rani’s share (after all adjustments) = ($\displaystyle 3,08,000$) $\displaystyle 72,000$ In the books of Rani, Manav and Pushpa Journal Date Particulars L.F. Dr. Cr. Amount Amount (₹) (₹) $\displaystyle 2024$ Manav’s Capital A/c Dr. $\displaystyle 43,200$ April Pushpa’s Capital A/c Dr. $\displaystyle 28,800$ $\displaystyle 01$ To Rani’s Capital A/c $\displaystyle 72,000$ (Rani’s share of goodwill adjusted in continuing partners’ capital account in their gaining ratio)