X, Y and Z were partners in a firm sharing profits and losses in the ratio of 5: 3: 2. On 31.3.2022 X retired from the firm. On Xs retirement the…

Books of X, Y and Z Journal Date L.F. Debit Credit Particulars Amount Amount (₹) (₹) $\displaystyle 2022$ General Reserve A/c Dr. $\displaystyle 90,000$ To X’s Capital A/c $\displaystyle 45,000$ March To Y’s Capital A/c $\displaystyle 27,000$ $\displaystyle 31$ To Z’s Capital A/c $\displaystyle 18,000$ (General Reserve transferred to Partners’ Capital Accounts on X’s retirement) X’s Capital A/c Dr. $\displaystyle 35,000$ ,, ,, Y’s Capital A/c Dr. $\displaystyle 21,000$ Z’s Capital A/c Dr. $\displaystyle 14,000$ $\displaystyle 70,000$ To Revaluation A/c (Loss on revaluation transferred to Partners’ Capital Accounts)