Particulars |
Madan |
Gopal |
Old Ratio |
3/5 |
2/5 |
New Ratio |
1/3 |
1/3 |
Gain/Sacrifice |
(3/5 – 1/3)= 4/15 (Sacrifice) |
(2/5 – 1/3)= 1/15 (Sacrifice) |
Sacrificing Ratio |
4:1 |
In the books of the Madan, Gopal and Sooraj Journal |
|||||
Date |
Particulars |
|
L.F. |
Debit (₹) |
Credit (₹) |
2019 |
|
|
|
|
|
April 01 |
Sooraj’s Capital A/c (4,50,000 × 1/3) |
Dr. |
|
1,50,000 |
|
|
To Madan’s Capital A/c (1,50,000× 4/5) |
|
|
|
1,20,000 |
|
To Gopal’s Capital A/c (1,50,000× 1/5) |
|
|
|
30,000 |
|
(Being adjustment for goodwill not brought by the partner) |
|
|
|
|
In the books of the Madan, Gopal and Sooraj Journal |
|||||
Date |
Particulars |
|
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
2019 |
Goodwill A/c |
Dr. |
|
4,50,000 |
|
April 01 |
To Madan’s Capital A/c (4,50,000 × 3/5) |
|
|
|
2,70,000 |
|
To Gopal’s Capital A/c (4,50,000 × 2/5) |
|
|
|
1,80,000 |
|
(Being goodwill raised in the books of accounts) |
|
|
|
|
2019 |
|
|
|
|
|
April 01 |
Sooraj’s Capital A/c (4,50,000 × 1/3) |
Dr. |
|
1,50,000 |
|
|
Madan’s Capital A/c (4,50,000 × 1/3) |
|
|
1,50,000 |
|
|
Gopal’s Capital A/c (4,50,000 × 1/3) |
|
|
1,50,000 |
|
|
To Goodwill A/c |
|
|
|
4,50,000 |
|
(Being adjustment for goodwill not brought by the partner) |
|
|
|
|