Year | 2015-16 | 2016-17 | 2017-18 |
Profit (₹) | 2,20,000 | 2,40,000 | 2,90,000 |
Date |
Particular |
L.F |
Debit Amount |
Credit Amount |
|
Harry's Capital A/c |
Dr. |
|
50,000 |
|
|
Porter's Capital A/c |
Dr. |
|
50,000 |
|
|
To Ali's Capital A/c |
|
|
|
1,00,000 |
|
(Profit adjusted due to change in profit sharing ratio) |
|
|
|
Distribution of Profit
Old Ratio (2:2:1) |
Harry |
Porter |
Ali |
Total |
|
2015 – 16 |
(88,000) |
(88,000) |
(44,000) |
= |
(2,20,000) |
2016 – 17 |
(96,000) |
(96,000) |
(48,000) |
= |
(2,40,000) |
2017 – 18 |
(1,16,000) |
(1,16,000) |
(58,000) |
= |
(2,90,000) |
Total Profit of 3 years in old ratio |
(3,00,000) |
(3,00,000) |
(1,50,000) |
= |
(7,50,000) |
Distribution of 3 years profit in new Ratio (1 : 1 : 1) |
2,50,000 |
2,50,000 |
2,50,000 |
= |
7,50,000 |
Adjusted Profit |
(50,000) |
(50,000) |
1,00,000 |
NIL |