The partners of a firm distributed the profits for the year ended 31st March, 2019, ₹90,000 in theratio of 3:2:1 without providing for the following adjustments:(i) A and B were entitled to a salary of 1,500 each per annum.(ii) B was entitled to a commission of 4,500.(iii) B and C had guaranteed a minimum profit of 35,000 p.a. to A.(iv) Profits were to be shared in the ratio of 3:3:2.Pass necessary journal entry for the above adjustments in the books of the firm.

The first step is to calculate the total amount that needs to be adjusted.

(i) A and B were entitled to a salary of 1,500 each per annum. So, the total salary for A and B is 1,500 + 1,500 = ₹3,000.

(ii) B was entitled to a commission of 4,500. So, add this to the total amount to be adjusted. Now, the total amount is 3,000 + 4,500 = ₹7,500.

(iii) B and C had guaranteed a minimum profit of 35,000 p.a. to A. This means that A should receive at least 35,000 from the profit. But according to the initial distribution (90,000 in the ratio of 3:2:1), A received only 90,000 * (3/6) = ₹45,000. So, there is no need for any adjustment here.

(iv) Profits were to be shared in the ratio of 3:3:2. But the initial distribution was in the ratio of 3:2:1. So, the profit needs to be redistributed. The total profit after adjustment is 90,000 - 7,500 = ₹82,500. According to the new ratio, A, B, and C should receive 82,500 * (3/8), 82,500 * (3/8), and 82,500 * (2/8) respectively.

The journal entries for the above adjustments are:

1. Profit and Loss Appropriation Account Dr. 3,000 (To record the salaries of A and B) To A's Capital Account 1,500 To B's Capital Account 1,500

2. Profit and Loss Appropriation Account Dr. 4,500 (To record the commission of B) To B's Capital Account 4,500

3. A's Capital Account Dr. 45,000 (To record the initial profit distribution) B's Capital Account Dr. 30,000 C's Capital Account Dr. 15,000 To Profit and Loss Appropriation Account 90,000

4. Profit and Loss Appropriation Account Dr. 82,500 (To record the final profit distribution) To A's Capital Account 30,937.5 To B's Capital Account 30,937.5 To C's Capital Account 20,625

Please note that the above calculations and journal entries are based on the assumption that the salaries and commission are to be deducted from the profit before distribution. If they are to be deducted from the individual shares of A and B, the calculations and journal entries will be different.