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प्रश्न
A, B and C are partners sharing profits and losses in the ratio of 9 : 6 : 5. Their Balance Sheet as at 31st March, 2024 was as follows:
| Liabilities | ₹ | ₹ | Assets | ₹ | ₹ |
| Sundry Creditors | 2,40,000 | Land and Building | 6,00,000 | ||
| Profit and Loss Account | 15,000 | Investments | 1,50,000 | ||
| General Reserve | 1,20,000 | Stock | 4,05,000 | ||
| Investment Fluctuation Reserve | 45,000 | Sundry Debtors | 3,10,000 | ||
| Workmen Compensation Reserve | 80,000 | Cash at Bank | 10,000 | ||
| Capital Accounts: | 10,00,000 | Advertisement Suspense Account | 25,000 | ||
| A | 5,00,000 | ||||
| B | 3,00,000 | ||||
| C | 2,00,000 | ||||
| 15,00,000 | 15,00,000 |
D is admitted as a new partner for `1/4`th of the future profits and losses. B sacrifices `1/10`th from his share in favour of D and the rest of the sacrifice was made by A and C in the ratio of 2 : 1. Claim on account of Workmen Compensation is estimated at ₹ 50,000. Market value of investments was ₹ 1,25,000.
Partners do not want to alter the values given in the Balance Sheet but prefer to record the effect of the change in profit-sharing ratio by an adjustment entry. You are required to give the necessary journal entry. Also calculate the new profit-sharing ratio.
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उत्तर
| Journal Entry | ||||
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| D’s Current Account ...Dr. | 40,000 | |||
| To A’s Capital Account | 16,000 | |||
| To B’s Capital Account | 16,000 | |||
| To C’s Capital Account | 8,000 | |||
| (Adjustment for reserves and accumulated profits/losses on admission of a new partner by crediting sacrificing partners and debiting gaining partner) | ||||
Calculation of Sacrificing Ratio:
Calculate the total sacrifice for the new partner, D.
D’s Share = `1/4`
B’s Sacrifice = `1/10`
Determine the remaining sacrifice to be A and C.
Remaining Sacrifice = `1/4 - 1/10`
= `(1 xx 5)/(4 xx 5) - (1 xx 2)/(10 xx 2)`
= `5/20 - 2/20`
= `(5 - 2)/20`
= `3/20`
A and C make the remaining sacrifice of `3/20` in their agreed ratio of 2 : 1.
A’s Sacrifice = `3/20 xx 2/3`
= `6/60`
= `1/10`
C’s Sacrifice = `3/20 xx 1/3`
= `3/60`
= `1/20`
The sacrificing ratio is the ratio of the shares given up by the old partners.
A, B, and C = `1/10 : 1/10 : 1/20`
To find the ratio in whole numbers, multiply each fraction by the common denominator 20.
A’s Sacrifice = `1/10`
= `(1 xx 2)/(10 xx 2)`
= `2/20`
B’s Sacrifice = `1/10`
= `(1 xx 2)/(10 xx 2)`
= `2/20`
C’s Sacrifice = `1/20`
Sacrificing Ratio A, B, and C = `2/20 : 2/20 : 1/20` or 2 : 2 : 1.
