Aru and Beena are partners in a firm sharing profits in the ratio of 2 : 1. They admit Charu and Diya as two new partners. The new profit sharing ratio is agreed at 4 : 3 : 2 :1. Charu introduced ₹ 5,00,000 and Diya ₹ 3,00,000 as their capitals

Aru and Beena are partners in a firm sharing profits in the ratio of 2 : 1. They admit Charu and Diya as two new partners. The new profit sharing ratio is agreed at 4 : 3 : 2 :1. Charu introduced ₹ 5,00,000 and Diya ₹ 3,00,000 as their capitals.

Charu brings in ₹ 60,000 in cash for her share of goodwill but Diya is unable to bring her share of goodwill in cash.

Pass necessary journal entries.

[Ans. Capital Accounts of Aru and Beena will be Credited by ₹ 80,000 and ₹ 10,000 respectively in respect of goodwill.]