Ramya, Sara and Thara are partners sharing profits and losses in the ratio of 5:3:2. On 1^st April 2018, Thara retires and on retirement, the following adjustments are agreed upon:
(i) Increase the value of premises by Rs. 40,000.
(ii) Depreciate stock by Rs. 3,000 and machinery by Rs. 6,500.
(iii) Provide an outstanding liability of Rs. 500
Pass journal entries and prepare revaluation account.

Justina, Navi and Rithika are partners sharing profits and losses equally. On 31.3.2019, Rithika retired from the partnership firm. Profits of the preceding years is as follows:
2016: Rs. 5,000; 2017: Rs. 10,000 and 2018: Rs. 30,000
Find out the share of profit of Ritika for the year 2019 till the date of retirement if
(a) Profit is to be distributed on the basis of the previous year’s profit
(b) Profit is to be distributed on the basis of the average profit of the past 3 years
Also pass necessary journal entries by assuming that partners’ capitals are fluctuating. Accountancy

Rathna, Baskar and Ibrahim are partners sharing profits and losses in the ratio of 2:3:4 respectively. Rathna died on 31st December, 2018. Final amount due to her showed a credit balance of Rs. 1,00,000. Pass journal entries if,
(a) The amount due is paid off immediately by cheque.
(b) The amount due is not paid immediately.
(c) Rs. 60,000 is paid immediately by cheque.

Distinguish between sacrificing ratio and gaining ratio.

Akash, Mugesh and Sanjay are partners in a firm sharing profits and losses in the ratio of 3:2:1. Their balance sheet as on 31^st March, 2017 is as follows:

Pass journal entry to transfer accumlatetd Profit and prepare the capital account of the partners