Q18.Nitin, Tarun and Amar are partners sharing profits equally and decide to share profits in the ratio of 2 : 2 : 1 w.e.f. 1st April, 2019. The extract of their Balance Sheet as at 31st March,2019 is as follows:

Pass the Journal entries in each of the following situations:

i

When its Market Value is not given;

ii

When its Market Value is 4,00,000;

iii

When its Market Value is 4,24,000;

iv

When its Market Value is   3,70,000;

v

When its  Market Value is   3,10,000.