22 :- Akhil, Bikram and Charu were partners sharing profits and losses in the ratio of 3:2:1. Bikram died on 30th September, 2024. Loss from the beginning of the accounting year till the date of death was estimated at Rs 3,60,000. Akhil and Charu decided to share future profits in the ratio of 3:2 w.e.f 1st October, 2024.
Pass the necessary journal entry to record Bhuwan’s share of profits/loss upto the date of death.
Solution :-
WORKING NOTES :
(i) Calculation of partner’s gaining ratio
Old profit sharing ratio of Akhil, Bikram and Charu is 3:2:1
Bikram died
New profit sharing ratio of Akhil and Charu = 3:2
Akhil gain = 3/5 – 3/6 = 3/30
Charu gain = 2/5 – 1/6 = 7/30
Gaining ratio is 3:7
(ii) Calculation of partner’s share in loss
Loss for the period = Rs 3,60,000
Bikram share in loss = 3,60,000 x 2/6 = Rs 1,20,000
Akhil will bring = 1,20,000 x 3/10 = Rs 36,000
Charu will bring = 1,20,000 x 7/10 = Rs 84,000