Naresh, David and Aslam are partners sharing profits in the ratio of 5:3:7.OnApril 1st, 2012, Nařesh gave a notice to retire from the firm. David and Aslam decidedto share future profits in the ratio of 2 : 3. The adjusted capital accounts of David andAslam show a balance of 233,000 and 70,500 respectively. The total amount to bepaid to Naresh is 90,500. This amount is to be paid by David and Aslam in such away that their capital become proportionate to their new profit sharing ratio. Passnecessary journal entries for the above transactions in the books of the firm. Show your(C.B.S.E. 2013)working clearly

Naresh, David and Aslam are partners sharing profits in the ratio of 5

1.	Naresh, David and Aslam are partners sharing profits in the ratio of 5:3:7.OnApril 1st, 2012, Nařesh gave a notice to retire from the firm. David and Aslam decidedto share future profits in the ratio of 2 : 3. The adjusted capital accounts of David andAslam show a balance of 233,000 and 70,500 respectively. The total amount to bepaid to Naresh is 90,500. This amount is to be paid by David and Aslam in such away that their capital become proportionate to their new profit sharing ratio. Passnecessary journal entries for the above transactions in the books of the firm. Show your(C.B.S.E. 2013)working clearly
Answer» ₹4500,₹ 7500