Moin, Nasir and Qasim are partners having capitals of Rs. 84,000, 64,000 and 48,000 respectively They share profit and losses in the ratio of 4:2:1 respectively. Qasim agrees to retire from the...

Moin, Nasir and Qasim are partners having capitals of Rs. 84,000, 64,000 and
48,000 respectively They share profit and losses in the ratio of 4:2:1 respectively.
Qasim agrees to retire from the partnership
Required:
Give the necessary entries in the general journal of the firm recording the retirement of
Qasim under each of the following assumptions separately.
Assumption-A: Qasim is paid Rs. 68,000 from the partnership in full settlement.
Assumption-B: Qasim is paid Rs. 40,000 from the partnership in full settlement.
(Note: use Bonus and Goodwill method above both the assumption)