A, B and C are partners sharing profits and lossess in the ratio of 2 : 3 : 4. They decided to share future profits and losses in the ratio of 4 : 3 : 2. They also decided record the effect of the following without affecting their book values :
`{:(,,"Rs."),("General Reserve",,"40,000"),("Profit & Loss A/c",,"20,000"),("Advertisement Suspense A/c",,"15,000"):}`
You are required to give the necessary single journal entry.

Explanation

Calculation of Net Effect of Accumulated Profits/Losses :
`{:(,,"Rs."),("General Reserve",,"40,000"),("(+) Profit & Loss A/c",,"20,000"),(,,bar("60,000")),("(-) Advertisement Suspense A/c",,"15,000"),(,,"Net Effect"bar ul("45,000")):}`
Caluction of Sacrifice or Gain :
Old Ratio of A, B and C `(2)/(9) : (3)/(9) : (4)/(9)`
New Ratio of A, B and C `(4)/(9) : (3)/(9) : (2)/(9)`
Sacrifice or Gain :
`A" "(2)/(9)-(4)/(9)=(2)/(9)` (Gain)
`B" "(3)/(9)-(3)/(9) = 0`
`C" "(4)/(9)-(2)/(9) = (2)/(9)` (Sacrifice)