Old Ratio: Nishu : Rishu : Kishu = 8 : 7 : 5
New Ratio: Nishu : Rishu : Kishu = 5 : 8 : 7
Step 1: Calculate sacrificing/gaining ratio:
Nishu's Gain = $ \frac{5}{20} - \frac{8}{20} = -\frac{3}{20} $ ⟹ Sacrificing $\frac{3}{20}$
Rishu's Gain = $ \frac{8}{20} - \frac{7}{20} = \frac{1}{20} $ ⟹ Gaining $\frac{1}{20}$
Kishu's Gain = $ \frac{7}{20} - \frac{5}{20} = \frac{2}{20} $ ⟹ Gaining $\frac{2}{20}$
Step 2: Total adjustment amount = Goodwill + Revaluation Profit – P&L Debit balance
$ = ₹ 20,00,000 + ₹ 7,00,000 - ₹ 2,00,000 = ₹ 25,00,000 $
This amount will be adjusted in sacrificing/gaining ratio (3:1:2).
Compensation:
Nishu (Sacrificing $\frac{3}{20}$) gets = $ 25,00,000 \times \frac{3}{6} = ₹ 12,50,000 $
Rishu (Gaining $\frac{1}{20}$) pays = $ 25,00,000 \times \frac{1}{6} = ₹ 4,16,667 $
Kishu (Gaining $\frac{2}{20}$) pays = $ 25,00,000 \times \frac{2}{6} = ₹ 8,33,333 $
Journal Entry:
Date | Particulars | Amount (₹) |
---|---|---|
Rishu's Capital A/c Dr. | 4,16,667 | |
Kishu's Capital A/c Dr. | 8,33,333 | |
To Nishu's Capital A/c | 12,50,000 |
Final Answer: Pass the above journal entry.
Complete and balance the following chemical equations: (a) \[ 2MnO_4^-(aq) + 10I^-(aq) + 16H^+(aq) \rightarrow \] (b) \[ Cr_2O_7^{2-}(aq) + 6Fe^{2+}(aq) + 14H^+(aq) \rightarrow \]