X, Y and Z were partners sharing profits and losses in the ratio of 3 : 2 : 1. Y died on 30th June, 2022. Profit from 1st April, 2022 to 30th June, 2022 was ₹ 3,60,000. X and Z decided to share future profits in the ratio of 3 : 2 with effect from 1st July, 2022.
Pass the necessary Journal entries to record Y’s share of profit up to the date of death.

[Ans.: Dr. X’s Capital A/c by ₹ 36,000 and Z’s Capital A/c by ₹ 84,000; Cr. Y’s Capital A/c by ₹ 1,20,000; Gaining Ratio of X and Z is 3 : 7.]

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