Bootstrap and Davy Jones partners sharing profits in the ratio of 2:1. On 31^st March, their Balance sheet showed General reserve of Rs. 60,000. It was decided that in future they will share profits and losses in the ratio of 3:2. Pass necessary Journal entry in each of the following alternative’s cases:

1. When General Reserve is not to be shown in the new Balance Sheet.

2. When General Reserve is to be shown in the new Balance Sheet.