Bimal and Lalit are partners sharing profits and losses in the ratio of 3 : 2. They changed their profit sharing ratio to 2 : 3 w.e.f 1st April 2023. The assets were revalued, and liabilities were reassessed on the date which resulted in a loss of ₹ 80,000. It was decided that the changed values will not be shown in the books of accounts. It will be adjusted in their capital accounts as by

Bimal and Lalit are partners sharing profits and losses in the ratio of 3 : 2. They changed their profit sharing ratio to 2 : 3 w.e.f 1st April 2023. The assets were revalued, and liabilities were reassessed on the date which resulted in a loss of ₹ 80,000. It was decided that the changed values will not be shown in the books of accounts. It will be adjusted in their capital accounts as by

a) Debiting Bimal’s Capital Account and Crediting Lalit’s Capital Account by ₹ 16,000

b) Crediting Bimal’s Capital Account and Debiting Lalit’s Capital Account by ₹ 16,000

c) Debiting Bimal’s Capital Account and Crediting Lalit’s Capital Account by ₹ 80,000

d) Crediting Bimal’s Capital Account and Debiting Lalit’s Capital Account by ₹ 80,000