amit and kajal were partners in the firm sharing profit in the ratio 3:2 with effect from jan 1, 2012. They agree to share profit equally for this purpose the good of the firm is valued at 60,000 pass the journal entry.
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Sacrifice by Amit (3/5)-(1/2)= 1/10
Gain by Kajal (1/2) - (2/5) = 1/10
Kajal's Capital a/c Dr. 6000. {60000× 1/10}
To Amit's Vali a/c. 6000
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