Partners A, B and C share the profit of a business in the ratio of 3 : 2 : 1 respectively. For one-sixth share they admit D who brings in ₹ 2,00,000 including ₹ 60,000 for his share of goodwill

Partners A, B and C share the profit of a business in the ratio of 3 : 2 : 1 respectively. For one-sixth share, they admit D who brings in ₹ 2,00,000 including ₹ 60,000 for his share of goodwill. Show the journal entries if A, B, C and D decide to share the profits respectively in the ratio of (a) 15 : 10 : 5 : 6; (b) 5 : 3 : 2 : 2, and (c) 2 : 2 : 1 : 1. Assume that the entire cash brought in by D remains in the business. Give Journal entries.

[Ans. Sacrificing Ratio : (a) 3 : 2 : 1, (b) A : B = 1 : 1, (c) Only A sacrifices.]