A,B, C and D are partners in a firm sharing profits and losses in the ratio of 2:2:1:1. They decided to
share future profits and losses in the ratio of 3:2:2:3. For this purpose goodwill of the firm valued at Rs1,50,000.
There was also a reserve of Rs60,000 in the books of the firm.
Find out sacrifice ratio and gaining ration and pass necessary journal entry assuming that reserve is not to be
distributed.
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