A & B are partners sharing profits & losses in the ratio of $2:1$ A new partner H was admitted into the partnership on the following terms: -The H brings in cash Rs.$60,000$ as goodwill for his $1/3$rd share in future profits. -That H brings such an amount that his capital will be $1/3$rd of total capital of the new firm. -That the capital accounts of the partners be readjusted on the basis of their profit sharing ratio through their current accounts. Position of capital accounts of partners are as follows: Particulars A B Opening Balance $2,82,000$ $2,40,000$ General Reserve $28,000$ $14,000$ Premium For Goodwill $40,000$ $20,000$ Revaluation Loss $(16,000)$ $(8,000)$ $3,34,000$ $2,66,000$ What are closing balance of partners capital accounts?

The adjusted combined capital of A and B is Rs. 3,34,000 plus Rs. 2,66,000, totaling Rs. 6,00,000. Since H is admitted for a 1/3rd share, the total capital of the new firm is Rs. 6,00,000 divided by 2/3, which equals Rs. 9,00,000. H's required capital is 1/3 of this total, making it Rs. 3,00,000, leaving the remaining Rs. 6,00,000 for A and B. Readjusting this Rs. 6,00,000 in their old profit sharing ratio of 2:1 gives A's capital as Rs. 4,00,000 and B's capital as Rs. 2,00,000. The final closing balances of the capital accounts are Rs. 4,00,000, Rs. 2,00,000, and Rs. 3,00,000.

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