Date	Particulars	L.F.	Dr. (Rs.)	Cr. (Rs.)
2018 April 1	? ....Dr To ? To ? (Being adjustment made for credit balance of Profit and Loss Account due to change in profit-sharing ratio)		?	? ?

X,Y and Z are in partnership sharing profits and losses in the ratio 5:3:2. On 1st April, 2015 they decided to share equally in future. On that date firm showed a balance in reserve Rs. 12,000 and profit and loss Rs 15,000. On that date goodwill was valued at Rs 48,000. Partners decided not to show goodwill in the books and they decided not to distibute General Reserve and Profit and Loss. Give necessary entry.

George and Henry are partners sharing profits in the ratio of 3 : 2. They decided to admit David as a new partner and to share future profits and losses equally.

David brings in Rs 50,000 as his capital. Goodwill of the firm is valued at Rs 60,000. Record the necessary journal entries :

(a) When no goodwill appears in the books

(b) When goodwill appears at Rs 50,000, and

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X and Y are two partners sharing profit and loss in the ratio 2:1. They decided to share profit and loss in future in the ratio of 3:2 If the goodwill of the firm is valued Rs. 60,000, how the adjustment in profit sharing ratio will be affected?

The correct option is A Y pay X Rs. 4,000Earlier goodwill was distributed in ratio 2:1 between X and Yi.e. 60000 as 40000 - X & 20000 - Y.Now , X = 60000 * 3/5 = 36000 ; Y = 60000 * 2/5 = 24000.hence, Y will pay 4000 to X.

The correct option is A Y pay X Rs. 4,000
Earlier goodwill was distributed in ratio 2:1 between X and Y
i.e. 60000 as 40000 - X & 20000 - Y.
Now , X = 60000 * 3/5 = 36000 ; Y = 60000 * 2/5 = 24000.
hence, Y will pay 4000 to X.