P and Q are partners sharing profits and losses as 2 : 3. R and S are admitted and profit sharing ratio becomes 3 : 4 : 3 : 2. Goodwill is valued at ₹ 3,00,000, R brings required goodwill and ₹ 2,00,000 cash for Capital

P and Q are partners sharing profits and losses as 2 : 3. R and S are admitted and profit sharing ratio becomes 3 : 4 : 3 : 2. Goodwill is valued at ₹ 3,00,000, R brings required goodwill and ₹ 2,00,000 cash for Capital. S brings in ₹ 1,00,000 cash and Motor Vehicle for ₹ 80,000 as his capital in addition to the required amount of goodwill in cash.

Show the necessary journal entries.

[Ans. Sacrificing Ratio 9 : 16.]