CBSE 2025, Set 2

Question

Aman, Govind and Guru were partners in a firm sharing profits and losses in the ratio of 3:2:1. Sudarshan was admitted for 1/4th share in the profits of the firm. The new profit sharing ratio between Aman, Govind, Guru and Sudarshan was agreed at 9:5:4:6. The total capital of the new firm was agreed upon as ₹3,60,000. Sudarshan will bring 1/4th of this as his capital. The capitals of the other partners were also to be adjusted according to the new profit sharing ratio. The capitals of Aman, Govind and Guru after all adjustments stood at ₹60,000, ₹80,000 and ₹45,000 respectively.
Calculate the new capitals of Aman, Govind and Guru. Also pass necessary journal entries for the above transactions in the books of the firm.

Edvaya · Accepted Answer

The correct answer is Subjective. **Calculation of New Capitals:** Total Capital of the new firm = ₹ 3,60,000. Distributed in new ratio 9:5:4:6. Aman = 9/24 × 3,60,000 = **₹ 1,35,000**. Govind = 5/24 × 3,60,000 = **₹ 75,000**. Guru = 4/24 × 3,60,000 = **₹ 60,000**. Sudarshan = 6/24 × 3,60,000 = ₹ 90,000. **Adjustment of Capital:** Aman: New 1,35,000 - Old 60,000 = ₹ 75,000 (To be brought in). Govind: New 75,000 - Old 80,000 = ₹ 5,000 (To be paid out). Guru: New 60,000 - Old 45,000 = ₹ 15,000 (To be brought in). **Books of the firm - Journal** | Date | Particulars | L.F. | Dr. Amount (₹) | Cr. Amount (₹) | |---|---|---|---|---| | | Cash/Bank A/c Dr.     To Sudarshan's Capital A/c     To Aman's Capital A/c     To Guru's Capital A/c (Cash brought by Sudarshan for capital & Aman/Guru for adjustment) | | 1,80,000 | 90,000 75,000 15,000 | | | Govind's Capital A/c Dr.     To Cash/Bank A/c (Excess capital paid to Govind) | | 5,000 | 5,000 |

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Accountancy > Accounting For Partnership Firms > Admission Of A Partner

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