Changing in profit sharing ratio

Reconstruction of a Partnership Firm:
       Partnership is the result of an agreement between persons for sharing the profits of a business.Reconstruction of the partnership firm may happen in the following circumstances:
1.Change in the profit sharing ratio among the existing partners:
   For example, A and B are partners in a firm sharing profit in the ratio of 2:1. In future , they decide to share profit in the ratio of 3:1. It amounts to reconstitution of the firm.
2.Admission of a New partner:
   For example, Charu and Dinesh are partners sharing profits equally. On April 1, 2016, they decided to admit Sudha as a new partner with 1/4th share. It results into reconstitution of the firm.
3.Retirement of an existing partner:
  For example, Babita , Gita and Sita are partners sharing profit in the ratio of 1:2:3. Sita Retires from the firm on march 31, 2016. It amounts to reconstitution of the firm.
4. Death of a Partner:
    For example, P, Q and R are partners in a firm sharing profits in the ratio of 4:2:3. R dies on March 31, 2016. P and Q decide to share future profits equally. It also amounts to reconstitution of firm.
Adjustment required at te time of change in te profit sharing ratio:
Following are:

1. Determining of Sacrificing ratio and Gaining ratio.
2. Accounting for Goodwill.
3. Accounting treatment of Reserves and Accumulated Profits.
4. Accounting for Revaluation of Assets amd Liabilities.
5. Adjustment of Capitals.