H & M are partners in a firm sharing profits and losses in the ratio of 3:2. Their capitals are Rs 2,00,000 and Rs 1,50,000 respectively. They admit K as a new partner who will get 1/6th share in the profits of the firm. K brings in Rs 1,00,000 as his capital. It was agreed that goodwill has to be adjusted through partner's capital account. Required journal entry - m H Capital A/e M Capital A/c To K Capital A/c K Capital A/c To H Capital A/c To M Capital A/c K Capital A/c To H Capital A/c To M Capital A/c Premium for Goodwill A/c To H Capital A/c To M Capital A/c Dr. 10,000 Dr. 15,000 Dr. 25,000 Dr. 25,000 Dr. 25,000 25,000 15,000 10,000 10,000 15,000 10,000 15,000