TS Grewal i (2014) Solutions for Class 12 Commerce Accountancy Chapter 6 Dissolution Of A Partnership Firm are provided here with simple step-by-step explanations. These solutions for Dissolution Of A Partnership Firm are extremely popular among class 12 Commerce students for Accountancy Dissolution Of A Partnership Firm Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the TS Grewal i (2014) Book of class 12 Commerce Accountancy Chapter 6 are provided here for you for free. You will also love the ad-free experience on Meritnation’s TS Grewal i (2014) Solutions. All TS Grewal i (2014) Solutions for class 12 Commerce Accountancy are prepared by experts and are 100% accurate.
Page No 6.56:
Question 1:
Answer:
Journal |
|||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
1,500 |
|
To Cash A/c |
|
|
1,500 |
||
(Realisation expenses paid) |
|
|
|
||
|
|
|
|
|
|
(b) |
Realisation A/c |
Dr. |
|
600 |
|
To Mohan’s Capital A/c |
|
|
600 |
||
(Realisation expenses paid by Mohan) |
|
|
|
||
|
|
|
|
|
|
(c) |
Realisation A/c |
Dr. |
|
2,000 |
|
To Mohan’s capital A/c |
|
|
2,000 |
||
(Commission allowed to Mohan on dissolution of the firm) |
|
|
|
||
|
|
|
|
|
|
(d) |
No entry No journal entry is passed because both motor car and creditors accounts have already been transferred to Realisation Account and nothing is recovered or paid in terms of Cash and Bank |
|
|
|
Page No 6.56:
Question 2:
Journal |
|||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
1,500 |
|
To Cash A/c |
|
|
1,500 |
||
(Realisation expenses paid) |
|
|
|
||
|
|
|
|
|
|
(b) |
Realisation A/c |
Dr. |
|
600 |
|
To Mohan’s Capital A/c |
|
|
600 |
||
(Realisation expenses paid by Mohan) |
|
|
|
||
|
|
|
|
|
|
(c) |
Realisation A/c |
Dr. |
|
2,000 |
|
To Mohan’s capital A/c |
|
|
2,000 |
||
(Commission allowed to Mohan on dissolution of the firm) |
|
|
|
||
|
|
|
|
|
|
(d) |
No entry No journal entry is passed because both motor car and creditors accounts have already been transferred to Realisation Account and nothing is recovered or paid in terms of Cash and Bank |
|
|
|
Answer:
Journal | |||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
10,000 |
|
To Ajay’s Capital A/c |
|
|
10,000 |
||
(Expenses on Realisation paid by Ajay) |
|
|
|
||
|
|
|
|
|
|
(b) |
Rahul’s Capital A/c |
Dr. |
|
15,000 |
|
To Cash A/c |
|
|
15,000 |
||
(Realisation Expenses paid by Rahul ) |
|
|
|
||
|
|
|
|
|
|
(c) |
Realisation A/c |
Dr. |
|
25,000 |
|
To Ramesh’s Capital A/c |
|
|
25,000 |
||
(Remuneration allowed to Ramesh on account of taking responsibility of dissolution) |
|
|
|
||
|
|
|
|
|
|
(d) |
Realisation A/c |
Dr. |
|
20,000 |
|
To Anuj’s Capital A/c |
|
|
20,000 |
||
(Remunation allowed to Anuj) |
|
|
|
||
Anuj’s Capital A/c |
Dr. |
|
5,000 |
|
|
To Bank A/c |
|
|
5,000 |
||
(Realisation expenses paid by the firm on behalf of Anuj) |
|
|
|
Page No 6.56:
Question 3:
Journal | |||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
10,000 |
|
To Ajay’s Capital A/c |
|
|
10,000 |
||
(Expenses on Realisation paid by Ajay) |
|
|
|
||
|
|
|
|
|
|
(b) |
Rahul’s Capital A/c |
Dr. |
|
15,000 |
|
To Cash A/c |
|
|
15,000 |
||
(Realisation Expenses paid by Rahul ) |
|
|
|
||
|
|
|
|
|
|
(c) |
Realisation A/c |
Dr. |
|
25,000 |
|
To Ramesh’s Capital A/c |
|
|
25,000 |
||
(Remuneration allowed to Ramesh on account of taking responsibility of dissolution) |
|
|
|
||
|
|
|
|
|
|
(d) |
Realisation A/c |
Dr. |
|
20,000 |
|
To Anuj’s Capital A/c |
|
|
20,000 |
||
(Remunation allowed to Anuj) |
|
|
|
||
Anuj’s Capital A/c |
Dr. |
|
5,000 |
|
|
To Bank A/c |
|
|
5,000 |
||
(Realisation expenses paid by the firm on behalf of Anuj) |
|
|
|
Answer:
|
Journal |
||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
7,500 |
|
To Alokâs Capital A/c |
|
|
7,500 |
||
(Remuneration allowed to Alok) |
|
|
|
||
Alokâs capital A/c |
Dr. |
|
10,000 |
|
|
To Bank A/c |
|
|
10,000 |
||
(Expenses paid by the firm on behalf of Alok) |
|
|
|
||
Alternatively, only one single entry can also be passed instead of above two entries. |
|
|
|
||
Realisation A/c |
Dr. |
|
7,500 |
|
|
Alokâs Capital A/c |
Dr. |
|
2,500 |
|
|
To Bank A/c |
|
|
10,000 |
||
(Realisation expenses paid) |
|
|
|
||
|
|
|
|
||
|
|
|
|
||
(b) |
Realisation A/c |
Dr. |
|
5,000 |
|
To Ravinderâs Capital A/c |
|
|
|
3,000 |
|
To Bank A/c |
|
|
2,000 |
||
(Realisation expenses paid) |
|
|
|
||
|
|
|
|
||
(c) |
Realisation A/c |
Dr. |
|
10,000 |
|
To Amitâs Capital A/c |
|
|
10,000 |
||
(Realisation expenses paid by Amit on behalf of the firm) |
|
|
|
Page No 6.56:
Question 4:
|
Journal |
||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
7,500 |
|
To Alokâs Capital A/c |
|
|
7,500 |
||
(Remuneration allowed to Alok) |
|
|
|
||
Alokâs capital A/c |
Dr. |
|
10,000 |
|
|
To Bank A/c |
|
|
10,000 |
||
(Expenses paid by the firm on behalf of Alok) |
|
|
|
||
Alternatively, only one single entry can also be passed instead of above two entries. |
|
|
|
||
Realisation A/c |
Dr. |
|
7,500 |
|
|
Alokâs Capital A/c |
Dr. |
|
2,500 |
|
|
To Bank A/c |
|
|
10,000 |
||
(Realisation expenses paid) |
|
|
|
||
|
|
|
|
||
|
|
|
|
||
(b) |
Realisation A/c |
Dr. |
|
5,000 |
|
To Ravinderâs Capital A/c |
|
|
|
3,000 |
|
To Bank A/c |
|
|
2,000 |
||
(Realisation expenses paid) |
|
|
|
||
|
|
|
|
||
(c) |
Realisation A/c |
Dr. |
|
10,000 |
|
To Amitâs Capital A/c |
|
|
10,000 |
||
(Realisation expenses paid by Amit on behalf of the firm) |
|
|
|
Answer:
Journal |
|||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Bank A/c |
Dr. |
|
50,000 |
|
To Realisation A/c |
|
|
50,000 |
||
(Assets realized for cash) |
|
|
|
||
|
|
|
|
||
(b) |
Realisation A/c |
Dr. |
|
10,000 |
|
To Bank A/c |
|
|
10,000 |
||
(Payment of liabilities made) |
|
|
|
||
|
|
|
|
||
(c) |
Realisation A/c |
Dr. |
|
2,500 |
|
To X’s Capital A/c |
|
|
2,500 |
||
(5% commission allowed to Mr. X’s on sale of assets of Rs 50,000) |
|
|
|
||
|
|
|
|
||
(d) |
Realisation A/c |
Dr. |
|
10,000 |
|
To Amrit’s Capital A/c |
|
|
10,000 |
||
(Amrit was allowed remuneration on account of realisation) |
|
|
|
||
Amrit’s Capital A/c |
Dr. |
|
15,000 |
|
|
To Bank A/c |
|
|
15,000 |
||
(Realisation expenses paid on behalf of amrit) |
|
|
|
||
Alternatively, only one single entry can also be passed instead of above two entries. |
|
|
|
||
Realisation A/c |
Dr. |
|
10,000 |
|
|
Amrit’s Capital A/c |
Dr. |
|
5,000 |
|
|
To Bank A/c | 15,000 | ||||
(Realisation expenses paid) | |||||
(e) | Bad debts Recovered A/c | Dr. | 3,600 | ||
To Realisation A/c | 3,600 | ||||
(Bad debts recovered) | |||||
(f) | Cash A/c | Dr. | 15,000 | ||
To Realisation A/c |
|
|
15,000 |
||
(Investments are realised at 150%) | |||||
|
|
|
|
Page No 6.57:
Question 5:
Journal |
|||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Bank A/c |
Dr. |
|
50,000 |
|
To Realisation A/c |
|
|
50,000 |
||
(Assets realized for cash) |
|
|
|
||
|
|
|
|
||
(b) |
Realisation A/c |
Dr. |
|
10,000 |
|
To Bank A/c |
|
|
10,000 |
||
(Payment of liabilities made) |
|
|
|
||
|
|
|
|
||
(c) |
Realisation A/c |
Dr. |
|
2,500 |
|
To X’s Capital A/c |
|
|
2,500 |
||
(5% commission allowed to Mr. X’s on sale of assets of Rs 50,000) |
|
|
|
||
|
|
|
|
||
(d) |
Realisation A/c |
Dr. |
|
10,000 |
|
To Amrit’s Capital A/c |
|
|
10,000 |
||
(Amrit was allowed remuneration on account of realisation) |
|
|
|
||
Amrit’s Capital A/c |
Dr. |
|
15,000 |
|
|
To Bank A/c |
|
|
15,000 |
||
(Realisation expenses paid on behalf of amrit) |
|
|
|
||
Alternatively, only one single entry can also be passed instead of above two entries. |
|
|
|
||
Realisation A/c |
Dr. |
|
10,000 |
|
|
Amrit’s Capital A/c |
Dr. |
|
5,000 |
|
|
To Bank A/c | 15,000 | ||||
(Realisation expenses paid) | |||||
(e) | Bad debts Recovered A/c | Dr. | 3,600 | ||
To Realisation A/c | 3,600 | ||||
(Bad debts recovered) | |||||
(f) | Cash A/c | Dr. | 15,000 | ||
To Realisation A/c |
|
|
15,000 |
||
(Investments are realised at 150%) | |||||
|
|
|
|
Answer:
|
Journal |
||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
12,000 |
|
To Bank A/c |
|
|
12,000 |
||
(Bank loan paid at the time of dissolution) |
|
|
|
||
|
|
|
|
||
(b) |
Q’s Capital A/c |
Dr. |
|
16,000 |
|
To Realisation A/c |
|
|
16,000 |
||
(Stock taken over by Q) |
|
|
|
||
|
|
|
|
||
(c) |
Realisation A/c |
Dr. |
|
4,000 |
|
To P’s Capital A/c |
|
|
4,000 |
||
(Creditors paid by P) |
|
|
|
||
|
|
|
|
||
(d) |
Bank A/c |
Dr. |
|
1,200 |
|
To Realisation A/c |
|
|
1,200 |
||
(Unrecorded assets realised) |
|
|
|
||
|
|
|
|
||
(e) |
Realisation A/c |
Dr. |
|
2,000 |
|
To Q’s Capital A/c |
|
|
2,000 |
||
(Realisation expenses paid by Q) |
|
|
|
||
|
|
|
|
||
(f) |
Realisation A/c |
Dr. |
|
36,000 |
|
To P’s Capital A/c |
|
|
20,000 |
||
To Q’s Capital A/c |
|
|
16,000 |
||
(Realisation Profit distributed ) |
|
|
|
Page No 6.57:
Question 6:
|
Journal |
||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
12,000 |
|
To Bank A/c |
|
|
12,000 |
||
(Bank loan paid at the time of dissolution) |
|
|
|
||
|
|
|
|
||
(b) |
Q’s Capital A/c |
Dr. |
|
16,000 |
|
To Realisation A/c |
|
|
16,000 |
||
(Stock taken over by Q) |
|
|
|
||
|
|
|
|
||
(c) |
Realisation A/c |
Dr. |
|
4,000 |
|
To P’s Capital A/c |
|
|
4,000 |
||
(Creditors paid by P) |
|
|
|
||
|
|
|
|
||
(d) |
Bank A/c |
Dr. |
|
1,200 |
|
To Realisation A/c |
|
|
1,200 |
||
(Unrecorded assets realised) |
|
|
|
||
|
|
|
|
||
(e) |
Realisation A/c |
Dr. |
|
2,000 |
|
To Q’s Capital A/c |
|
|
2,000 |
||
(Realisation expenses paid by Q) |
|
|
|
||
|
|
|
|
||
(f) |
Realisation A/c |
Dr. |
|
36,000 |
|
To P’s Capital A/c |
|
|
20,000 |
||
To Q’s Capital A/c |
|
|
16,000 |
||
(Realisation Profit distributed ) |
|
|
|
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
|
|
|
|
|
1. |
B’s Capital A/c |
Dr. |
|
9,600 |
|
|
C’s Capital A/c |
Dr. |
|
4,800 |
|
|
D’s Capital A/c |
Dr. |
|
9,600 |
|
|
To Profit and Loss A/c |
|
|
|
24,000 |
|
(Loss in Profit and Loss A/c divided among Partners in the ratio of 2:1:2) |
|
|
|
|
|
|
|
|
|
|
2. |
Bank A/c |
Dr. |
|
4,000 |
|
|
To Realisation A/c |
|
|
|
4,000 |
|
(An unrecorded machinery was sold) |
|
|
|
|
|
|
|
|
|
|
3. |
Realisation A/c |
Dr. |
|
45,000 |
|
|
To Bank A/c |
|
|
|
45,000 |
|
(Creditors were paid Rs 45,000 in full |
|
|
|
|
|
settlement of their claim of Rs 50,000) |
|
|
|
|
|
|
|
|
|
|
Page No 6.57:
Question 7:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
|
|
|
|
|
1. |
B’s Capital A/c |
Dr. |
|
9,600 |
|
|
C’s Capital A/c |
Dr. |
|
4,800 |
|
|
D’s Capital A/c |
Dr. |
|
9,600 |
|
|
To Profit and Loss A/c |
|
|
|
24,000 |
|
(Loss in Profit and Loss A/c divided among Partners in the ratio of 2:1:2) |
|
|
|
|
|
|
|
|
|
|
2. |
Bank A/c |
Dr. |
|
4,000 |
|
|
To Realisation A/c |
|
|
|
4,000 |
|
(An unrecorded machinery was sold) |
|
|
|
|
|
|
|
|
|
|
3. |
Realisation A/c |
Dr. |
|
45,000 |
|
|
To Bank A/c |
|
|
|
45,000 |
|
(Creditors were paid Rs 45,000 in full |
|
|
|
|
|
settlement of their claim of Rs 50,000) |
|
|
|
|
|
|
|
|
|
|
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
|
|
|
|
|
1. |
Profit and Loss A/c* |
Dr. |
|
18,000 |
|
|
To X’s Capital A/c |
|
|
|
9,000 |
|
To Y’s Capital A/c |
|
|
|
6,000 |
|
To Z’s Capital A/c |
|
|
|
3,000 |
|
(Balance in P&L A/c divided among Partners in the ratio of 3:2:1) |
|
|
|
|
|
|
|
|
|
|
2. |
X’s Capital A/c |
Dr. |
|
50,000 |
|
|
To Realisation A/c |
|
|
|
50,000 |
|
(An unrecorded asset taken over by X) |
|
|
|
|
|
|
|
|
|
|
3. |
Realisation A/c |
Dr. |
|
4,000 |
|
|
To Bank A/c |
|
|
|
4,000 |
|
(Creditors were paid Rs 4,000 in full settlement |
|
|
|
|
|
of their claim of Rs 5,000) |
|
|
|
|
|
|
|
|
|
|
*Balance in Profit and Loss A/c always mean positive balance i.e. credit balance.
Page No 6.57:
Question 8:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
|
|
|
|
|
1. |
Profit and Loss A/c* |
Dr. |
|
18,000 |
|
|
To X’s Capital A/c |
|
|
|
9,000 |
|
To Y’s Capital A/c |
|
|
|
6,000 |
|
To Z’s Capital A/c |
|
|
|
3,000 |
|
(Balance in P&L A/c divided among Partners in the ratio of 3:2:1) |
|
|
|
|
|
|
|
|
|
|
2. |
X’s Capital A/c |
Dr. |
|
50,000 |
|
|
To Realisation A/c |
|
|
|
50,000 |
|
(An unrecorded asset taken over by X) |
|
|
|
|
|
|
|
|
|
|
3. |
Realisation A/c |
Dr. |
|
4,000 |
|
|
To Bank A/c |
|
|
|
4,000 |
|
(Creditors were paid Rs 4,000 in full settlement |
|
|
|
|
|
of their claim of Rs 5,000) |
|
|
|
|
|
|
|
|
|
|
*Balance in Profit and Loss A/c always mean positive balance i.e. credit balance.
Answer:
Journal |
|
|||||
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
||
|
Realisation A/c |
Dr. |
|
6,000 |
|
|
|
To Kunal’s Capital A/c |
|
|
|
6,000 |
|
|
(Being Kunal agrees to pay off his wife’s loan) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Realisation A/c |
Dr. |
|
27,000 |
|
|
|
To Cash A/c |
|
|
|
27,000 |
|
|
(Being Creditors worth Rs 30,000 paid off at a discount of 10%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Rohit’s Loan A/c |
Dr. |
|
70,000 |
|
|
|
To Cash A/c |
|
|
|
70,000 |
|
|
(Being Loan paid by the firm) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Kunal’s Capital A/c |
Dr. |
|
3,000 |
|
|
|
To Realisation A/c |
|
|
|
3,000 |
|
|
(Being asset taken over by Kunal) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Rohit’s Capital A/c |
Dr. |
|
5,000 |
|
|
|
Kunal’s Capital A/c |
Dr. |
|
5,000 |
|
|
|
Sarthak’s Capital A/c |
Dr. |
|
5,000 |
|
|
|
To Profit and Loss A/c |
|
|
|
15,000 |
|
|
(Being Loss distributed equally) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Realisation A/c |
Dr. |
|
15,000 |
|
|
|
To Sarthak’s Capital A/c |
|
|
|
15,000 |
|
|
(Being remuneration of Rs 15,000 paid for completion of dissolution process) |
|
|
|
|
|
|
|
|
|
|
|
Page No 6.58:
Question 9:
Journal |
|
|||||
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
||
|
Realisation A/c |
Dr. |
|
6,000 |
|
|
|
To Kunal’s Capital A/c |
|
|
|
6,000 |
|
|
(Being Kunal agrees to pay off his wife’s loan) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Realisation A/c |
Dr. |
|
27,000 |
|
|
|
To Cash A/c |
|
|
|
27,000 |
|
|
(Being Creditors worth Rs 30,000 paid off at a discount of 10%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Rohit’s Loan A/c |
Dr. |
|
70,000 |
|
|
|
To Cash A/c |
|
|
|
70,000 |
|
|
(Being Loan paid by the firm) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Kunal’s Capital A/c |
Dr. |
|
3,000 |
|
|
|
To Realisation A/c |
|
|
|
3,000 |
|
|
(Being asset taken over by Kunal) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Rohit’s Capital A/c |
Dr. |
|
5,000 |
|
|
|
Kunal’s Capital A/c |
Dr. |
|
5,000 |
|
|
|
Sarthak’s Capital A/c |
Dr. |
|
5,000 |
|
|
|
To Profit and Loss A/c |
|
|
|
15,000 |
|
|
(Being Loss distributed equally) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Realisation A/c |
Dr. |
|
15,000 |
|
|
|
To Sarthak’s Capital A/c |
|
|
|
15,000 |
|
|
(Being remuneration of Rs 15,000 paid for completion of dissolution process) |
|
|
|
|
|
|
|
|
|
|
|
Answer:
Journal |
|||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
5,000 |
|
To Bank A/c |
|
|
5,000 |
||
(Payment made for realisation expenses) |
|
|
|
||
|
|
|
|
||
(b) |
No Entry |
|
|
|
|
|
|
|
|
||
(c) |
Yâs Capital A/c |
Dr. |
|
10,000 |
|
To Realisation A/c |
|
|
10,000 |
||
(Machine taken over by Y) |
|
|
|
||
|
|
|
|
||
(d) |
Realisation A/c |
Dr. |
|
20,000 |
|
To Zâs Capital A/c |
|
|
20,000 |
||
(Z accepted the liabilities) |
|
|
|
||
|
|
|
|
||
(e) |
Yâs Loan A/c |
Dr. |
|
20,000 |
|
To bank A/c |
|
|
20,000 |
||
(Payment of Yâs Loan made) |
|
|
|
||
|
|
|
|
||
Xâs Capital A/c |
Dr. |
|
25,000 |
|
|
Yâs Capital A/c |
Dr. |
|
15,000 |
|
|
Zâs Capital A/c |
Dr. |
|
10,000 |
|
|
To Profit and Loss A/c |
|
|
50,000 |
||
(Balance of Profit and Loss account distributed among partners in their old ratio) |
|
|
|
||
|
|
|
|
||
(g) |
Realisation A/c |
Dr. |
|
50,000 |
|
To Bank A/c |
|
|
50,000 |
||
(Bank Loan paid) |
|
|
|
||
|
|
|
|
||
(h) |
Bank A/c |
Dr. |
|
17,000 |
|
To Realisation A/c |
|
|
17,000 |
||
(Unrecorded assets sold) |
|
|
|
||
|
|
|
|
||
(i) |
Zâs Capital A/c |
Dr. |
|
14,000 |
|
To Realisation A/c |
|
|
14,000 |
||
(Stock taken over by Z) |
|
|
|
||
|
|
|
|
||
(j) |
Realisation A/c |
Dr. |
|
30,000 |
|
To Xâs Capital A/c |
|
|
15,000 |
||
To Yâs Capital A/c |
|
|
9,000 |
||
To Zâs Capital A/c |
|
|
6,000 |
||
(Profit on realisation distributed among partners) |
|
|
|
Page No 6.58:
Question 10:
Journal |
|||||
S.N. |
Particulars |
L.F. |
Debits Amount Rs |
Credit Amount Rs |
|
(a) |
Realisation A/c |
Dr. |
|
5,000 |
|
To Bank A/c |
|
|
5,000 |
||
(Payment made for realisation expenses) |
|
|
|
||
|
|
|
|
||
(b) |
No Entry |
|
|
|
|
|
|
|
|
||
(c) |
Yâs Capital A/c |
Dr. |
|
10,000 |
|
To Realisation A/c |
|
|
10,000 |
||
(Machine taken over by Y) |
|
|
|
||
|
|
|
|
||
(d) |
Realisation A/c |
Dr. |
|
20,000 |
|
To Zâs Capital A/c |
|
|
20,000 |
||
(Z accepted the liabilities) |
|
|
|
||
|
|
|
|
||
(e) |
Yâs Loan A/c |
Dr. |
|
20,000 |
|
To bank A/c |
|
|
20,000 |
||
(Payment of Yâs Loan made) |
|
|
|
||
|
|
|
|
||
Xâs Capital A/c |
Dr. |
|
25,000 |
|
|
Yâs Capital A/c |
Dr. |
|
15,000 |
|
|
Zâs Capital A/c |
Dr. |
|
10,000 |
|
|
To Profit and Loss A/c |
|
|
50,000 |
||
(Balance of Profit and Loss account distributed among partners in their old ratio) |
|
|
|
||
|
|
|
|
||
(g) |
Realisation A/c |
Dr. |
|
50,000 |
|
To Bank A/c |
|
|
50,000 |
||
(Bank Loan paid) |
|
|
|
||
|
|
|
|
||
(h) |
Bank A/c |
Dr. |
|
17,000 |
|
To Realisation A/c |
|
|
17,000 |
||
(Unrecorded assets sold) |
|
|
|
||
|
|
|
|
||
(i) |
Zâs Capital A/c |
Dr. |
|
14,000 |
|
To Realisation A/c |
|
|
14,000 |
||
(Stock taken over by Z) |
|
|
|
||
|
|
|
|
||
(j) |
Realisation A/c |
Dr. |
|
30,000 |
|
To Xâs Capital A/c |
|
|
15,000 |
||
To Yâs Capital A/c |
|
|
9,000 |
||
To Zâs Capital A/c |
|
|
6,000 |
||
(Profit on realisation distributed among partners) |
|
|
|
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
Realisation A/c |
Dr. |
|
9,22,000 |
|
|
To Land & Building A/c |
|
|
|
4,00,000 |
|
To Machinery A/c |
|
|
|
3,00,000 |
|
To Debtors A/c |
|
|
|
2,22,000 |
|
(Being assets transferred) |
|
|
|
|
|
|
|
|
|
|
|
Creditors A/c |
Dr. |
|
1,79,000 |
|
|
Employees’ Provident Fund A/c |
Dr. |
|
21,000 |
|
|
To Realisation A/c |
|
|
|
2,00,000 |
|
(Being liabilities transferred) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
4,30,000 |
|
|
To Realisation A/c |
|
|
|
4,30,000 |
|
(Being Land & Building realised) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c (2,25,000 + 1,000) |
Dr. |
|
2,26,000 |
|
|
To Realisation A/c |
|
|
|
2,26,000 |
|
(Being Debtors realised along-with Bad-debts recovered) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
25,000 |
|
|
To Realisation A/c |
|
|
|
25,000 |
|
(Being Unrecorded Investments sold) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
2,80,000 |
|
|
To Realisation A/c |
|
|
|
2,80,000 |
|
(Being Machinery took over by Vichal for Cash) |
|
|
|
|
|
|
|
|
|
|
|
Realisation A/c |
Dr. |
|
1,75,000 |
|
|
To Bank A/c (85,500 + 89,500) |
|
|
|
1,75,000 |
|
(Being 50% Creditors of Rs 89,500 were paid at a discount of Rs 4,000 and remaining 50% were settled in full) |
|
|
|
|
|
|
|
|
|
|
|
Realisation A/c |
Dr. |
|
64,000 |
|
|
To Achal’s Capital A/c |
|
|
|
24,000 |
|
To Vichal’s Capital A/c |
|
|
|
40,000 |
|
(Being profits on realisation transferred) |
|
|
|
|
|
|
|
|
|
|
|
Achal’s Capital A/c |
Dr. |
|
3,24,000 |
|
|
Vichal’s Capital A/c |
Dr. |
|
5,40,000 |
|
|
To Bank A/c |
|
|
|
8,64,000 |
|
(Being Partners paid off) |
|
|
|
|
|
|
|
|
|
|
Page No 6.58:
Question 11:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
Realisation A/c |
Dr. |
|
9,22,000 |
|
|
To Land & Building A/c |
|
|
|
4,00,000 |
|
To Machinery A/c |
|
|
|
3,00,000 |
|
To Debtors A/c |
|
|
|
2,22,000 |
|
(Being assets transferred) |
|
|
|
|
|
|
|
|
|
|
|
Creditors A/c |
Dr. |
|
1,79,000 |
|
|
Employees’ Provident Fund A/c |
Dr. |
|
21,000 |
|
|
To Realisation A/c |
|
|
|
2,00,000 |
|
(Being liabilities transferred) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
4,30,000 |
|
|
To Realisation A/c |
|
|
|
4,30,000 |
|
(Being Land & Building realised) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c (2,25,000 + 1,000) |
Dr. |
|
2,26,000 |
|
|
To Realisation A/c |
|
|
|
2,26,000 |
|
(Being Debtors realised along-with Bad-debts recovered) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
25,000 |
|
|
To Realisation A/c |
|
|
|
25,000 |
|
(Being Unrecorded Investments sold) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
2,80,000 |
|
|
To Realisation A/c |
|
|
|
2,80,000 |
|
(Being Machinery took over by Vichal for Cash) |
|
|
|
|
|
|
|
|
|
|
|
Realisation A/c |
Dr. |
|
1,75,000 |
|
|
To Bank A/c (85,500 + 89,500) |
|
|
|
1,75,000 |
|
(Being 50% Creditors of Rs 89,500 were paid at a discount of Rs 4,000 and remaining 50% were settled in full) |
|
|
|
|
|
|
|
|
|
|
|
Realisation A/c |
Dr. |
|
64,000 |
|
|
To Achal’s Capital A/c |
|
|
|
24,000 |
|
To Vichal’s Capital A/c |
|
|
|
40,000 |
|
(Being profits on realisation transferred) |
|
|
|
|
|
|
|
|
|
|
|
Achal’s Capital A/c |
Dr. |
|
3,24,000 |
|
|
Vichal’s Capital A/c |
Dr. |
|
5,40,000 |
|
|
To Bank A/c |
|
|
|
8,64,000 |
|
(Being Partners paid off) |
|
|
|
|
|
|
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Machinery |
10,580 |
Sundry Creditors |
14,000 |
||||
Stock |
4,740 |
Bank (Assets Realised) |
19,500 |
||||
Debtors |
5,540 |
|
|
||||
Bank A/c: |
|
Loss transferred to: |
|
||||
Creditors |
14,000 |
|
X’s Capital A/c |
1,200 |
|
||
Expenses |
440 |
14,440 |
Y’s Capital A/c |
600 |
1,800 |
||
|
|
|
|
||||
|
|
|
|
||||
|
35,300 |
|
35,300 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
X |
Y |
Particulars |
X |
Y |
||
Realisation A/c (Loss) |
1,200 |
600 |
Balance b/d |
4,000 |
3,000 |
||
|
|
|
Reserve for Contingencies |
333 |
167 |
||
Bank A/c |
3,133 |
2,567 |
|
|
|
||
|
4,333 |
3,167 |
|
4,333 |
3,167 |
||
|
|
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
640 |
Realisation A/c |
14,440 |
||
Realisation A/c |
19,500 |
X’s Capital A/c |
3,133 |
||
|
|
Y’s Capital A/c |
2,567 |
||
|
20,140 |
|
20,140 |
||
|
|
|
|
Page No 6.59:
Question 12:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Machinery |
10,580 |
Sundry Creditors |
14,000 |
||||
Stock |
4,740 |
Bank (Assets Realised) |
19,500 |
||||
Debtors |
5,540 |
|
|
||||
Bank A/c: |
|
Loss transferred to: |
|
||||
Creditors |
14,000 |
|
X’s Capital A/c |
1,200 |
|
||
Expenses |
440 |
14,440 |
Y’s Capital A/c |
600 |
1,800 |
||
|
|
|
|
||||
|
|
|
|
||||
|
35,300 |
|
35,300 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
X |
Y |
Particulars |
X |
Y |
||
Realisation A/c (Loss) |
1,200 |
600 |
Balance b/d |
4,000 |
3,000 |
||
|
|
|
Reserve for Contingencies |
333 |
167 |
||
Bank A/c |
3,133 |
2,567 |
|
|
|
||
|
4,333 |
3,167 |
|
4,333 |
3,167 |
||
|
|
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
640 |
Realisation A/c |
14,440 |
||
Realisation A/c |
19,500 |
X’s Capital A/c |
3,133 |
||
|
|
Y’s Capital A/c |
2,567 |
||
|
20,140 |
|
20,140 |
||
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Building |
45,000 |
Creditors |
14,000 |
||||
Machinery |
15,000 |
Bank A/c: |
|
||||
Furniture |
12,000 |
Stock |
22,000 |
|
|||
Debtors |
8,000 |
Debtors |
7,500 |
|
|||
Stock |
24,000 |
Machinery |
16,000 |
|
|||
|
|
Building |
35,000 |
80,500 |
|||
Bank A/c: |
|
|
|
||||
Creditors |
14,000 |
|
Bale’s Loan |
500 |
|||
Expenses |
2,500 |
16,500 |
Yale’s Capital A/c (Furniture ) |
9,000 |
|||
|
|
Loss transferred to: |
|
||||
|
|
Bale’s Capital A/c |
8,250 |
|
|||
|
|
Yale’s Capital A/c |
8,250 |
16,500 |
|||
|
1,20,500 |
|
1,20,500 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Bale |
Yale |
Particulars |
Bale |
Yale |
||
Realisation A/c (Loss) |
8,250 |
8,250 |
Balance b/d |
50,000 |
40,000 |
||
Realisation A/c |
– |
9,000 |
General Reserve (Old Ratio) |
4,000 |
4,000 |
||
Bank A/c |
45,750 |
26,750 |
|
|
|
||
|
|
|
|
|
|
||
|
54,000 |
44,000 |
|
54,000 |
44,000 |
||
|
|
|
|
|
|
||
Bale’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Bank A/c |
2,500 |
Balance b/d |
3,000 |
||
Realisation A/c |
500 |
|
|
||
|
|
|
|
||
|
3,000 |
|
3,000 |
||
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
11,000 |
Bale’s Loan |
2,500 |
||
Realisation A/c |
80,500 |
Realisation A/c |
16,500 |
||
|
|
Bale’s Capital A/c |
45,750 |
||
|
|
Yale’s Capital A/c |
26,750 |
||
|
|
|
|
||
|
91,500 |
|
91,500 |
||
|
|
|
|
Page No 6.59:
Question 13:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Building |
45,000 |
Creditors |
14,000 |
||||
Machinery |
15,000 |
Bank A/c: |
|
||||
Furniture |
12,000 |
Stock |
22,000 |
|
|||
Debtors |
8,000 |
Debtors |
7,500 |
|
|||
Stock |
24,000 |
Machinery |
16,000 |
|
|||
|
|
Building |
35,000 |
80,500 |
|||
Bank A/c: |
|
|
|
||||
Creditors |
14,000 |
|
Bale’s Loan |
500 |
|||
Expenses |
2,500 |
16,500 |
Yale’s Capital A/c (Furniture ) |
9,000 |
|||
|
|
Loss transferred to: |
|
||||
|
|
Bale’s Capital A/c |
8,250 |
|
|||
|
|
Yale’s Capital A/c |
8,250 |
16,500 |
|||
|
1,20,500 |
|
1,20,500 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Bale |
Yale |
Particulars |
Bale |
Yale |
||
Realisation A/c (Loss) |
8,250 |
8,250 |
Balance b/d |
50,000 |
40,000 |
||
Realisation A/c |
– |
9,000 |
General Reserve (Old Ratio) |
4,000 |
4,000 |
||
Bank A/c |
45,750 |
26,750 |
|
|
|
||
|
|
|
|
|
|
||
|
54,000 |
44,000 |
|
54,000 |
44,000 |
||
|
|
|
|
|
|
||
Bale’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Bank A/c |
2,500 |
Balance b/d |
3,000 |
||
Realisation A/c |
500 |
|
|
||
|
|
|
|
||
|
3,000 |
|
3,000 |
||
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
11,000 |
Bale’s Loan |
2,500 |
||
Realisation A/c |
80,500 |
Realisation A/c |
16,500 |
||
|
|
Bale’s Capital A/c |
45,750 |
||
|
|
Yale’s Capital A/c |
26,750 |
||
|
|
|
|
||
|
91,500 |
|
91,500 |
||
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Furniture |
11,000 |
Provision for Bad Debts |
400 |
||||
Investments |
7,000 |
Sundry creditors |
9,500 |
||||
Stoke |
38,000 |
|
|
||||
Debtors |
8,000 |
Rathi’s Capital (Investment) |
7,500 |
||||
Cash A/c: |
|
Cash A/c (Furniture, debtors, stock ) |
48,400 |
||||
Sundry Creditors |
9,000 |
|
Loss transferred to: |
|
|||
Expenses |
600 |
9,600 |
Jathi’s Capital A/c |
3,900 |
|
||
|
|
Sethi s Capital A/c |
2,340 |
|
|||
|
|
Rathis Capital A/c |
1,560 |
7,800 |
|||
|
|
|
|
||||
|
|
|
|
||||
|
73,600 |
|
73,600 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Jathi |
Sethi |
Rathi |
Particulars |
Jathi |
Sethi |
Rathi |
||
Realisation A/c (Loss) |
3,900 |
2,340 |
1,560 |
Balance b/d |
28,000 |
19,000 |
8,000 |
||
Realisation A/c |
– |
– |
7,500 |
|
|
|
|
||
Cash A/c |
24,100 |
16,660 |
– |
Cash A/c |
– |
– |
1,060 |
||
|
|
|
|
|
|
|
|
||
|
28,000 |
19,000 |
9,060 |
|
28,000 |
19,000 |
9,060 |
||
|
|
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
900 |
Realisation A/c |
9,600 |
||
Realisation A/c |
48,400 |
Jathi’s Capital A/c |
24,100 |
||
Rathi’s Capital |
1,060 |
Sethi’s Capital A/c |
16,660 |
||
|
|
|
|
||
|
50,360 |
|
50,360 |
||
|
|
|
|
Page No 6.59:
Question 14:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Furniture |
11,000 |
Provision for Bad Debts |
400 |
||||
Investments |
7,000 |
Sundry creditors |
9,500 |
||||
Stoke |
38,000 |
|
|
||||
Debtors |
8,000 |
Rathi’s Capital (Investment) |
7,500 |
||||
Cash A/c: |
|
Cash A/c (Furniture, debtors, stock ) |
48,400 |
||||
Sundry Creditors |
9,000 |
|
Loss transferred to: |
|
|||
Expenses |
600 |
9,600 |
Jathi’s Capital A/c |
3,900 |
|
||
|
|
Sethi s Capital A/c |
2,340 |
|
|||
|
|
Rathis Capital A/c |
1,560 |
7,800 |
|||
|
|
|
|
||||
|
|
|
|
||||
|
73,600 |
|
73,600 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Jathi |
Sethi |
Rathi |
Particulars |
Jathi |
Sethi |
Rathi |
||
Realisation A/c (Loss) |
3,900 |
2,340 |
1,560 |
Balance b/d |
28,000 |
19,000 |
8,000 |
||
Realisation A/c |
– |
– |
7,500 |
|
|
|
|
||
Cash A/c |
24,100 |
16,660 |
– |
Cash A/c |
– |
– |
1,060 |
||
|
|
|
|
|
|
|
|
||
|
28,000 |
19,000 |
9,060 |
|
28,000 |
19,000 |
9,060 |
||
|
|
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
900 |
Realisation A/c |
9,600 |
||
Realisation A/c |
48,400 |
Jathi’s Capital A/c |
24,100 |
||
Rathi’s Capital |
1,060 |
Sethi’s Capital A/c |
16,660 |
||
|
|
|
|
||
|
50,360 |
|
50,360 |
||
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Stock |
25,000 |
Sundry Creditors |
21,500 |
||||
Debtors |
18,000 |
Loan |
21,500 |
||||
Furniture |
5,000 |
|
|
||||
Machinery |
8,000 |
Cash A/c: |
|
||||
|
|
Fixed Assets |
2,000 |
|
|||
Cash A/c: |
|
Stock and Debtors |
33,000 |
35,000 |
|||
Sundry creditors |
21,500 |
|
|
|
|||
Expenses |
600 |
|
Loss transferred to: |
|
|||
Loan |
21,500 |
43,600 |
Sharma’s Capital A/c |
10,800 |
|
||
|
|
Verma’s Capital A/c |
7,200 |
|
|||
|
|
Gupta’s Capital A/c |
3,600 |
21,600 |
|||
|
|
|
|
||||
|
99,600 |
|
99,600 |
||||
|
|
|
|
||||
Partners’ Capital Accounts | |||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Sharma |
Verma |
Gupta |
Particulars |
Sharma |
Verma |
Gupta |
||
Realisation A/c (Loss) |
10,800 |
7,200 |
3,600 |
Balance b/d |
6,000 |
5,000 |
3,000 |
||
|
|
|
|
Cash A/c |
4,800 |
2,200 |
600 |
||
|
|
|
|
|
|
|
|
||
|
10,800 |
7,200 |
3,600 |
|
10,800 |
7,200 |
3,600 |
||
|
|
|
|
|
|
|
|
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
1,000 |
Realisation A/c |
43,600 |
||
Realisation A/c |
35,000 |
|
|
||
Sharma’s Capital |
4,800 |
|
|
||
Verma’s Capital |
2,200 |
|
|
||
Gupta’s Capital |
600 |
|
|
||
|
|
|
|
||
|
43,600 |
|
43,600 |
||
|
|
|
|
Page No 6.60:
Question 15:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Stock |
25,000 |
Sundry Creditors |
21,500 |
||||
Debtors |
18,000 |
Loan |
21,500 |
||||
Furniture |
5,000 |
|
|
||||
Machinery |
8,000 |
Cash A/c: |
|
||||
|
|
Fixed Assets |
2,000 |
|
|||
Cash A/c: |
|
Stock and Debtors |
33,000 |
35,000 |
|||
Sundry creditors |
21,500 |
|
|
|
|||
Expenses |
600 |
|
Loss transferred to: |
|
|||
Loan |
21,500 |
43,600 |
Sharma’s Capital A/c |
10,800 |
|
||
|
|
Verma’s Capital A/c |
7,200 |
|
|||
|
|
Gupta’s Capital A/c |
3,600 |
21,600 |
|||
|
|
|
|
||||
|
99,600 |
|
99,600 |
||||
|
|
|
|
||||
Partners’ Capital Accounts | |||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Sharma |
Verma |
Gupta |
Particulars |
Sharma |
Verma |
Gupta |
||
Realisation A/c (Loss) |
10,800 |
7,200 |
3,600 |
Balance b/d |
6,000 |
5,000 |
3,000 |
||
|
|
|
|
Cash A/c |
4,800 |
2,200 |
600 |
||
|
|
|
|
|
|
|
|
||
|
10,800 |
7,200 |
3,600 |
|
10,800 |
7,200 |
3,600 |
||
|
|
|
|
|
|
|
|
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
1,000 |
Realisation A/c |
43,600 |
||
Realisation A/c |
35,000 |
|
|
||
Sharma’s Capital |
4,800 |
|
|
||
Verma’s Capital |
2,200 |
|
|
||
Gupta’s Capital |
600 |
|
|
||
|
|
|
|
||
|
43,600 |
|
43,600 |
||
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Debtors |
16,000 |
Provision for Doubtful Debts |
400 |
||||
Stock |
12,000 |
Creditors |
24,000 |
||||
Furniture |
4,000 |
|
|
||||
Building |
44,000 |
Bank A/c: |
|
||||
Bank A/c: |
|
Stock |
10,000 |
|
|||
Creditors |
22,000 |
|
Furniture |
2,000 |
|
||
Liability for damages |
6,000 |
|
Building |
50,000 |
|
||
Expense |
2,000 |
30,000 |
Debtors |
14,000 |
76,000 |
||
|
|
Loss transferred to: |
|
||||
|
|
A’s Capital A/c |
2,240 |
|
|||
|
|
B’s Capital A/c |
2,240 |
|
|||
|
|
C’s Capital A/c |
1,120 |
5,600 |
|||
|
|
|
|
||||
|
1,06,000 |
|
1,06,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Realisation A/c (Loss) |
2,240 |
2,240 |
1,120 |
Balance b/d |
30,000 |
24,000 |
12,000 |
||
|
|
|
|
Reserve A/c |
4,000 |
4,000 |
2,000 |
||
Bank A/c |
31,760 |
25,760 |
12,880 |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
34,000 |
28,000 |
14,000 |
|
34,000 |
28,000 |
14,000 |
||
|
|
|
|
|
|
|
|
Bank Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
24,400 |
Realisation A/c |
30,000 |
||
Realisation A/c |
76,000 |
A’s Capital A/c |
31,760 |
||
|
|
B’s Capital A/c |
25,760 |
||
|
|
C’s Capital A/c |
12,880 |
||
|
1,00,400 |
|
1,00,400 |
||
|
|
|
|
Page No 6.60:
Question 16:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Debtors |
16,000 |
Provision for Doubtful Debts |
400 |
||||
Stock |
12,000 |
Creditors |
24,000 |
||||
Furniture |
4,000 |
|
|
||||
Building |
44,000 |
Bank A/c: |
|
||||
Bank A/c: |
|
Stock |
10,000 |
|
|||
Creditors |
22,000 |
|
Furniture |
2,000 |
|
||
Liability for damages |
6,000 |
|
Building |
50,000 |
|
||
Expense |
2,000 |
30,000 |
Debtors |
14,000 |
76,000 |
||
|
|
Loss transferred to: |
|
||||
|
|
A’s Capital A/c |
2,240 |
|
|||
|
|
B’s Capital A/c |
2,240 |
|
|||
|
|
C’s Capital A/c |
1,120 |
5,600 |
|||
|
|
|
|
||||
|
1,06,000 |
|
1,06,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Realisation A/c (Loss) |
2,240 |
2,240 |
1,120 |
Balance b/d |
30,000 |
24,000 |
12,000 |
||
|
|
|
|
Reserve A/c |
4,000 |
4,000 |
2,000 |
||
Bank A/c |
31,760 |
25,760 |
12,880 |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
34,000 |
28,000 |
14,000 |
|
34,000 |
28,000 |
14,000 |
||
|
|
|
|
|
|
|
|
Bank Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
24,400 |
Realisation A/c |
30,000 |
||
Realisation A/c |
76,000 |
A’s Capital A/c |
31,760 |
||
|
|
B’s Capital A/c |
25,760 |
||
|
|
C’s Capital A/c |
12,880 |
||
|
1,00,400 |
|
1,00,400 |
||
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Stock |
6,000 |
Creditors |
38,000 |
||||
Debtors |
19,000 |
Mrs. A’s Loan |
10,000 |
||||
Furniture |
4,000 |
|
|
||||
Plant |
28,000 |
A’s Capital A/c (Investments) |
8,000 |
||||
Investments |
10,000 |
Bank A/c: |
|
||||
A’s Capital A/c (Mrs. A’s loan) |
10,000 |
Stock |
5,000 |
|
|||
Bank A/c : |
|
Debtors |
18,500 |
|
|||
Expenses |
1,600 |
|
Furniture |
4,500 |
|
||
Creditors |
37,000 |
38,600 |
Plant |
25,000 |
53,000 |
||
|
|
Loss transferred to: |
|
||||
|
|
A’s Capital A/c |
3,960 |
|
|||
|
|
B’s Capital A/c |
2,640 |
6,600 |
|||
|
1,15,600 |
|
1,15,600 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Realisation (loss) |
3,960 |
2,640 |
Balance b/d |
10,000 |
8,000 |
||
Realisation A/c |
8,000 |
– |
Reserve A/c |
3,000 |
2,000 |
||
Profit and Loss A/c |
4,500 |
3,000 |
Realisation A/c |
10,000 |
– |
||
Bank A/c |
6,540 |
4,360 |
|
|
|
||
|
23,000 |
10,000 |
|
23,000 |
10,000 |
||
|
|
|
|
|
|
||
B’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
|
|
Balance b/d |
15,000 |
||
Bank A/c |
15,000 |
|
|
||
|
15,000 |
|
15,000 |
||
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
11,500 |
Realisation A/c |
38,600 |
||
Realisation A/c |
53,000 |
A’s Capital A/c |
6,540 |
||
|
|
B’s Capital A/c |
4,360 |
||
|
|
B’s Loan A/c |
15,000 |
||
|
64,500 |
|
64,500 |
||
|
|
|
|
Page No 6.61:
Question 17:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Stock |
6,000 |
Creditors |
38,000 |
||||
Debtors |
19,000 |
Mrs. A’s Loan |
10,000 |
||||
Furniture |
4,000 |
|
|
||||
Plant |
28,000 |
A’s Capital A/c (Investments) |
8,000 |
||||
Investments |
10,000 |
Bank A/c: |
|
||||
A’s Capital A/c (Mrs. A’s loan) |
10,000 |
Stock |
5,000 |
|
|||
Bank A/c : |
|
Debtors |
18,500 |
|
|||
Expenses |
1,600 |
|
Furniture |
4,500 |
|
||
Creditors |
37,000 |
38,600 |
Plant |
25,000 |
53,000 |
||
|
|
Loss transferred to: |
|
||||
|
|
A’s Capital A/c |
3,960 |
|
|||
|
|
B’s Capital A/c |
2,640 |
6,600 |
|||
|
1,15,600 |
|
1,15,600 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Realisation (loss) |
3,960 |
2,640 |
Balance b/d |
10,000 |
8,000 |
||
Realisation A/c |
8,000 |
– |
Reserve A/c |
3,000 |
2,000 |
||
Profit and Loss A/c |
4,500 |
3,000 |
Realisation A/c |
10,000 |
– |
||
Bank A/c |
6,540 |
4,360 |
|
|
|
||
|
23,000 |
10,000 |
|
23,000 |
10,000 |
||
|
|
|
|
|
|
||
B’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
|
|
Balance b/d |
15,000 |
||
Bank A/c |
15,000 |
|
|
||
|
15,000 |
|
15,000 |
||
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
11,500 |
Realisation A/c |
38,600 |
||
Realisation A/c |
53,000 |
A’s Capital A/c |
6,540 |
||
|
|
B’s Capital A/c |
4,360 |
||
|
|
B’s Loan A/c |
15,000 |
||
|
64,500 |
|
64,500 |
||
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Building |
40,000 |
Provision for Doubtful Debts |
2,000 |
||||
Plant and machinery |
40,000 |
Bills Payable |
40,000 |
||||
Stock |
19,000 |
Loan from Bank |
30,000 |
||||
Sundry Debtors |
42,000 |
|
|
||||
Bank A/c: |
|
Bank A/c: |
|
||||
Bills Payable |
32,000 |
|
Stock |
23,400 |
|
||
Outstanding Bill |
800 |
|
Debtors |
21,000 |
|
||
Expenses |
1,250 |
|
Building |
36,000 |
|
||
Loan from Bank |
30,000 |
64,050 |
Plant and Machinery |
36,000 |
1,16,400 |
||
|
|
Loss transferred to: |
|
||||
|
|
P’s Capital A/c |
9,250 |
|
|||
|
|
Q’s Capital A/c |
5,550 |
|
|||
|
|
RCapital A/c |
1,850 |
16,650 |
|||
|
2,05,050 |
|
2,05,050 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
P |
Q |
R |
Particulars |
P |
Q |
R |
||
Realisation A/c (Loss) |
9,250 |
5,550 |
1,850 |
Balance b/d |
44,000 |
36,000 |
20,000 |
||
|
|
|
|
Reserve Fund |
5,000 |
3,000 |
1,000 |
||
Bank A/c |
39,750 |
33,450 |
19,150 |
|
|
|
|
||
|
49,000 |
39,000 |
21,000 |
|
49,000 |
39,000 |
21,000 |
||
|
|
|
|
|
|
|
|
||
Bank Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
40,000 |
Realisation A/c |
64,050 |
||
Realisation A/c |
1,16,400 |
P’s Capital A/c |
39,750 |
||
|
|
Q’s Capital A/c |
33,450 |
||
|
|
R’s Capital A/c |
19,150 |
||
|
1,56,400 |
|
1,56,400 |
||
|
|
|
|
Page No 6.61:
Question 18:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Building |
40,000 |
Provision for Doubtful Debts |
2,000 |
||||
Plant and machinery |
40,000 |
Bills Payable |
40,000 |
||||
Stock |
19,000 |
Loan from Bank |
30,000 |
||||
Sundry Debtors |
42,000 |
|
|
||||
Bank A/c: |
|
Bank A/c: |
|
||||
Bills Payable |
32,000 |
|
Stock |
23,400 |
|
||
Outstanding Bill |
800 |
|
Debtors |
21,000 |
|
||
Expenses |
1,250 |
|
Building |
36,000 |
|
||
Loan from Bank |
30,000 |
64,050 |
Plant and Machinery |
36,000 |
1,16,400 |
||
|
|
Loss transferred to: |
|
||||
|
|
P’s Capital A/c |
9,250 |
|
|||
|
|
Q’s Capital A/c |
5,550 |
|
|||
|
|
RCapital A/c |
1,850 |
16,650 |
|||
|
2,05,050 |
|
2,05,050 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
P |
Q |
R |
Particulars |
P |
Q |
R |
||
Realisation A/c (Loss) |
9,250 |
5,550 |
1,850 |
Balance b/d |
44,000 |
36,000 |
20,000 |
||
|
|
|
|
Reserve Fund |
5,000 |
3,000 |
1,000 |
||
Bank A/c |
39,750 |
33,450 |
19,150 |
|
|
|
|
||
|
49,000 |
39,000 |
21,000 |
|
49,000 |
39,000 |
21,000 |
||
|
|
|
|
|
|
|
|
||
Bank Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
40,000 |
Realisation A/c |
64,050 |
||
Realisation A/c |
1,16,400 |
P’s Capital A/c |
39,750 |
||
|
|
Q’s Capital A/c |
33,450 |
||
|
|
R’s Capital A/c |
19,150 |
||
|
1,56,400 |
|
1,56,400 |
||
|
|
|
|
Answer:
Realisation Account | ||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Freehold property |
16,000 |
Sundry creditors |
2,000 |
|||||
Investments |
4,000 |
|
|
|||||
Sundry Debtors |
2,000 |
Dipali’s Capital A/c (Investment) |
3,800 |
|||||
Stock |
3,000 |
Bank A/c: |
|
|||||
Bank A/c: |
|
Freehold Property |
18,000 |
|
||||
Creditors |
1,900 |
|
Sundry Debtors |
1,800 |
|
|||
Expenses |
400 |
2,300 |
Stock |
2,800 |
|
|||
|
|
Computer Printer |
1,000 |
23,600 |
||||
Profit transferred to: |
|
|
|
|||||
Dipali’s Capital A/c |
1,260 |
|
|
|
||||
Rajashri’s Capital A/c |
840 |
2,100 |
|
|
||||
|
29,400 |
|
29,400 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Dipali |
Rajashri |
Particulars |
Dipali |
Rajashri |
||
Realisation A/c (Investments) |
3,800 |
– |
Balance b/d |
17,500 |
10,000 |
||
|
|
|
Profit and Loss A/c |
900 |
600 |
||
Bank A/c |
15,860 |
11,440 |
Realisation A/c (Profit) |
1,260 |
840 |
||
|
19,660 |
11,440 |
|
19,660 |
11,440 |
||
|
|
|
|
|
|
||
Bank Account | ||||
Dr. |
|
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Balance b/d |
2,000 |
Realisation A/c |
2,300 |
|
Cash A/c |
4,000 |
Dipali’s Capital A/c |
15,860 |
|
Realisation A/c |
23,600 |
Rajashri’s Capital A/c |
11,440 |
|
|
|
|
|
|
|
29,600 |
|
29,600 |
|
|
|
|
|
Page No 6.62:
Question 19:
Realisation Account | ||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Freehold property |
16,000 |
Sundry creditors |
2,000 |
|||||
Investments |
4,000 |
|
|
|||||
Sundry Debtors |
2,000 |
Dipali’s Capital A/c (Investment) |
3,800 |
|||||
Stock |
3,000 |
Bank A/c: |
|
|||||
Bank A/c: |
|
Freehold Property |
18,000 |
|
||||
Creditors |
1,900 |
|
Sundry Debtors |
1,800 |
|
|||
Expenses |
400 |
2,300 |
Stock |
2,800 |
|
|||
|
|
Computer Printer |
1,000 |
23,600 |
||||
Profit transferred to: |
|
|
|
|||||
Dipali’s Capital A/c |
1,260 |
|
|
|
||||
Rajashri’s Capital A/c |
840 |
2,100 |
|
|
||||
|
29,400 |
|
29,400 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Dipali |
Rajashri |
Particulars |
Dipali |
Rajashri |
||
Realisation A/c (Investments) |
3,800 |
– |
Balance b/d |
17,500 |
10,000 |
||
|
|
|
Profit and Loss A/c |
900 |
600 |
||
Bank A/c |
15,860 |
11,440 |
Realisation A/c (Profit) |
1,260 |
840 |
||
|
19,660 |
11,440 |
|
19,660 |
11,440 |
||
|
|
|
|
|
|
||
Bank Account | ||||
Dr. |
|
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Balance b/d |
2,000 |
Realisation A/c |
2,300 |
|
Cash A/c |
4,000 |
Dipali’s Capital A/c |
15,860 |
|
Realisation A/c |
23,600 |
Rajashri’s Capital A/c |
11,440 |
|
|
|
|
|
|
|
29,600 |
|
29,600 |
|
|
|
|
|
Answer:
Realisation Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Stock |
19,800 |
Provision for Doubtful Debts |
1,000 |
|
Debtors |
15,000 |
Creditors |
17,000 |
|
Investments |
4,000 |
Bills Payable |
12,000 |
|
Furniture |
10,000 |
Vinod’s Capital A/c |
5,000 |
|
Machinery |
33,000 |
Bank A/c: |
|
|
Bank (Expenses) |
2,000 |
Stock |
17,500 |
|
Bank (Creditors) |
17,000 |
Debtors |
14,500 |
|
Bank (Bills Payable) |
12,000 |
Furniture |
6,800 |
|
|
|
Machinery |
30,300 |
69,100 |
|
|
Loss on Realisation transferred to: |
|
|
|
|
Vinod |
4,350 |
|
|
|
Vijay |
2,900 |
|
|
|
Venkat |
1,450 |
8,700 |
|
1,12,800 |
|
1,12,800 |
|
|
|
|
|
Partners’ Capital Account |
|||||||
Dr. |
Cr. |
||||||
Particulars |
Vinod |
Vijay |
Venkat |
Particulars |
Vinod |
Vijay |
Venkat |
Realisation A/c (Investments) |
5,000 |
– |
– |
Balance b/d |
25,000 |
11,000 |
8,000 |
Realisation A/c (Loss) |
4,350 |
2,900 |
1,450 |
General Reserve |
3,000 |
2,000 |
1,000 |
Bank A/c |
18,650 |
10,100 |
7,550 |
|
|
|
|
|
28,000 |
13,000 |
9,000 |
|
28,000 |
13,000 |
9,000 |
|
|
|
|
|
|
|
|
Vinod’s Loan A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Bank A/c |
5,300 |
Balance b/d |
5,300 |
|
5,300 |
|
5,300 |
|
|
|
|
Bank A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Balance b/d |
3,500 |
Realisation A/c (Expenses) |
2,000 |
Realisation A/c (Assets realised) |
69,100 |
Realisation A/c (Creditors) |
17,000 |
|
|
Realisation A/c (Bills Payable) |
12,000 |
|
|
Vinod’s Loan A/c |
5,300 |
|
|
Vinod’s Capital A/c |
18,650 |
|
|
Vijay’s Capital A/c |
10,100 |
|
|
Venkat’s Capital A/c |
7,550 |
|
72,600 |
|
72,600 |
|
|
|
|
Page No 6.62:
Question 20:
Realisation Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Stock |
19,800 |
Provision for Doubtful Debts |
1,000 |
|
Debtors |
15,000 |
Creditors |
17,000 |
|
Investments |
4,000 |
Bills Payable |
12,000 |
|
Furniture |
10,000 |
Vinod’s Capital A/c |
5,000 |
|
Machinery |
33,000 |
Bank A/c: |
|
|
Bank (Expenses) |
2,000 |
Stock |
17,500 |
|
Bank (Creditors) |
17,000 |
Debtors |
14,500 |
|
Bank (Bills Payable) |
12,000 |
Furniture |
6,800 |
|
|
|
Machinery |
30,300 |
69,100 |
|
|
Loss on Realisation transferred to: |
|
|
|
|
Vinod |
4,350 |
|
|
|
Vijay |
2,900 |
|
|
|
Venkat |
1,450 |
8,700 |
|
1,12,800 |
|
1,12,800 |
|
|
|
|
|
Partners’ Capital Account |
|||||||
Dr. |
Cr. |
||||||
Particulars |
Vinod |
Vijay |
Venkat |
Particulars |
Vinod |
Vijay |
Venkat |
Realisation A/c (Investments) |
5,000 |
– |
– |
Balance b/d |
25,000 |
11,000 |
8,000 |
Realisation A/c (Loss) |
4,350 |
2,900 |
1,450 |
General Reserve |
3,000 |
2,000 |
1,000 |
Bank A/c |
18,650 |
10,100 |
7,550 |
|
|
|
|
|
28,000 |
13,000 |
9,000 |
|
28,000 |
13,000 |
9,000 |
|
|
|
|
|
|
|
|
Vinod’s Loan A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Bank A/c |
5,300 |
Balance b/d |
5,300 |
|
5,300 |
|
5,300 |
|
|
|
|
Bank A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Balance b/d |
3,500 |
Realisation A/c (Expenses) |
2,000 |
Realisation A/c (Assets realised) |
69,100 |
Realisation A/c (Creditors) |
17,000 |
|
|
Realisation A/c (Bills Payable) |
12,000 |
|
|
Vinod’s Loan A/c |
5,300 |
|
|
Vinod’s Capital A/c |
18,650 |
|
|
Vijay’s Capital A/c |
10,100 |
|
|
Venkat’s Capital A/c |
7,550 |
|
72,600 |
|
72,600 |
|
|
|
|
Answer:
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Plant and Machinery |
30,000 |
Creditors |
10,000 |
||||
Stock |
5,500 |
Bills Payable |
3,700 |
||||
Investments |
15,000 |
Investments Fluctuation Fund |
4,500 |
||||
Debtors |
7,100 |
Provision for Doubtful Debts |
450 |
||||
Cash A/c: |
|
P’s Capital A/c (Investments) |
12,500 |
||||
Creditors |
10,000 |
|
Cash A/c: |
|
|||
Bills Payable |
3,700 |
|
Stock and Debtors |
11,500 |
|
||
Expenses |
900 |
14,600 |
Plant and Machinery |
22,500 |
|
||
P’s Capital A/c |
1,000 |
Unrecorded Assets |
1,500 |
35,500 |
|||
|
|
Loss transferred to: |
|
||||
|
|
P’s Capital A/c |
3,275 |
|
|||
|
|
Q’s Capital A/c |
1,965 |
|
|||
|
|
R’s Capital A/c |
1,310 |
6,550 |
|||
|
73,200 |
|
73,200 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
P |
Q |
R |
Particulars |
P |
Q |
R |
||
Balance b/d |
– |
– |
8,000 |
Balance b/d |
37,550 |
15,000 |
– |
||
Realisation (Loss) |
3,275 |
1,965 |
1,310 |
Realisation A/c |
1,000 |
– |
– |
||
Realisation A/c (Investments) |
12,500 |
|
|
|
|
|
|
||
Cash A/c |
22,775 |
13,035 |
– |
Cash A/c |
– |
– |
9,310 |
||
|
38,500 |
15,000 |
9,310 |
|
38,550 |
15,000 |
9,310 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
5,600 |
Realisation A/c |
14,600 |
||
Realisation A/c |
35,500 |
P’s Capital A/c |
22,775 |
||
R’s Capital A/c |
9,310 |
Q’s Capital A/c |
13,035 |
||
|
|
|
|
||
|
50,410 |
|
50,410 |
||
|
|
|
|
Page No 6.63:
Question 21:
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Plant and Machinery |
30,000 |
Creditors |
10,000 |
||||
Stock |
5,500 |
Bills Payable |
3,700 |
||||
Investments |
15,000 |
Investments Fluctuation Fund |
4,500 |
||||
Debtors |
7,100 |
Provision for Doubtful Debts |
450 |
||||
Cash A/c: |
|
P’s Capital A/c (Investments) |
12,500 |
||||
Creditors |
10,000 |
|
Cash A/c: |
|
|||
Bills Payable |
3,700 |
|
Stock and Debtors |
11,500 |
|
||
Expenses |
900 |
14,600 |
Plant and Machinery |
22,500 |
|
||
P’s Capital A/c |
1,000 |
Unrecorded Assets |
1,500 |
35,500 |
|||
|
|
Loss transferred to: |
|
||||
|
|
P’s Capital A/c |
3,275 |
|
|||
|
|
Q’s Capital A/c |
1,965 |
|
|||
|
|
R’s Capital A/c |
1,310 |
6,550 |
|||
|
73,200 |
|
73,200 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
P |
Q |
R |
Particulars |
P |
Q |
R |
||
Balance b/d |
– |
– |
8,000 |
Balance b/d |
37,550 |
15,000 |
– |
||
Realisation (Loss) |
3,275 |
1,965 |
1,310 |
Realisation A/c |
1,000 |
– |
– |
||
Realisation A/c (Investments) |
12,500 |
|
|
|
|
|
|
||
Cash A/c |
22,775 |
13,035 |
– |
Cash A/c |
– |
– |
9,310 |
||
|
38,500 |
15,000 |
9,310 |
|
38,550 |
15,000 |
9,310 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
5,600 |
Realisation A/c |
14,600 |
||
Realisation A/c |
35,500 |
P’s Capital A/c |
22,775 |
||
R’s Capital A/c |
9,310 |
Q’s Capital A/c |
13,035 |
||
|
|
|
|
||
|
50,410 |
|
50,410 |
||
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Stock |
6,000 |
Provision for Doubtful Debts |
1,000 |
||||
Debtors |
20,000 |
Mrs. Deepak’s Loan |
10,000 |
||||
Furniture |
4,000 |
Creditors |
38,000 |
||||
Plant |
28,000 |
Deepak’s Capital (Investments) |
8,000 |
||||
Investments |
10,000 |
Cash A/c: |
|
||||
Deepak’s Capital A/c (Mrs. Deepak Loan) |
10,000 |
Stock |
5,000 |
|
|||
Cash A/c: |
|
Debtors |
18,500 |
|
|||
Creditors |
37,050 |
|
Furniture |
4,500 |
|
||
Expenses |
600 |
37,650 |
Plant |
25,000 |
53,000 |
||
|
|
Loss transferred to: |
|
||||
|
|
Deepak’s Capital A/c |
3,390 |
|
|||
|
|
Neeru’s Capital A/c |
2,260 |
5,650 |
|||
|
1,15,650 |
|
1,15,650 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
||||||
Dr. |
|
Cr. |
||||
Particulars |
Deepak |
Neeru |
Particulars |
Deepak |
Neeru |
|
Profit and Loss A/c |
3,000 |
2,000 |
Balance b/d |
10,000 |
8,000 |
|
Realisation A/c (Investments) |
8,000 |
– |
Reserve Fund |
1,500 |
1,000 |
|
Realisation A/c (Loss) |
3,390 |
2,260 |
Realisation A/c (Mrs. Deepak loan) |
10,000 |
– |
|
Cash A/c |
7,110 |
4,740 |
|
|
|
|
|
|
|
|
|
|
|
|
21,500 |
9,000 |
|
21,500 |
9,000 |
|
|
|
|
|
|
|
|
Neeru’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
|
|
Balance b/d |
15,000 |
||
Cash A/c |
15,000 |
|
|
||
|
15,000 |
|
15,000 |
||
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
11,500 |
Realisation A/c |
37,650 |
||
Realisation A/c |
53,000 |
Deepak’s Capital A/c |
7,110 |
||
|
|
Neeru’s Capital A/c |
4,740 |
||
|
|
Neeru’s Loan A/c |
15,000 |
||
|
64,500 |
|
64,500 |
||
|
|
|
|
Page No 6.63:
Question 22:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Stock |
6,000 |
Provision for Doubtful Debts |
1,000 |
||||
Debtors |
20,000 |
Mrs. Deepak’s Loan |
10,000 |
||||
Furniture |
4,000 |
Creditors |
38,000 |
||||
Plant |
28,000 |
Deepak’s Capital (Investments) |
8,000 |
||||
Investments |
10,000 |
Cash A/c: |
|
||||
Deepak’s Capital A/c (Mrs. Deepak Loan) |
10,000 |
Stock |
5,000 |
|
|||
Cash A/c: |
|
Debtors |
18,500 |
|
|||
Creditors |
37,050 |
|
Furniture |
4,500 |
|
||
Expenses |
600 |
37,650 |
Plant |
25,000 |
53,000 |
||
|
|
Loss transferred to: |
|
||||
|
|
Deepak’s Capital A/c |
3,390 |
|
|||
|
|
Neeru’s Capital A/c |
2,260 |
5,650 |
|||
|
1,15,650 |
|
1,15,650 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
||||||
Dr. |
|
Cr. |
||||
Particulars |
Deepak |
Neeru |
Particulars |
Deepak |
Neeru |
|
Profit and Loss A/c |
3,000 |
2,000 |
Balance b/d |
10,000 |
8,000 |
|
Realisation A/c (Investments) |
8,000 |
– |
Reserve Fund |
1,500 |
1,000 |
|
Realisation A/c (Loss) |
3,390 |
2,260 |
Realisation A/c (Mrs. Deepak loan) |
10,000 |
– |
|
Cash A/c |
7,110 |
4,740 |
|
|
|
|
|
|
|
|
|
|
|
|
21,500 |
9,000 |
|
21,500 |
9,000 |
|
|
|
|
|
|
|
|
Neeru’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
|
|
Balance b/d |
15,000 |
||
Cash A/c |
15,000 |
|
|
||
|
15,000 |
|
15,000 |
||
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
11,500 |
Realisation A/c |
37,650 |
||
Realisation A/c |
53,000 |
Deepak’s Capital A/c |
7,110 |
||
|
|
Neeru’s Capital A/c |
4,740 |
||
|
|
Neeru’s Loan A/c |
15,000 |
||
|
64,500 |
|
64,500 |
||
|
|
|
|
Answer:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Stock |
20,100 |
Creditors |
50,400 |
||||
Debtors |
62,600 |
|
|
||||
Investments |
16,000 |
A’s Capital A/c (Investments) |
18,000 |
||||
Furniture |
6,500 |
Cash A/c: |
|
||||
Building |
23,500 |
Furniture and Building |
29,700 |
|
|||
Cash A/c: |
|
Stock and Debtors |
80,000 |
1,09,700 |
|||
Expenses |
1,300 |
|
|
|
|||
Creditors |
49,600 |
|
|
|
|||
Bills |
1,500 |
52,400 |
Loss transferred to : |
|
|||
|
|
A’s Capital A/c |
1,000 |
|
|||
|
|
B’s Capital A/c |
1,000 |
|
|||
|
|
C’s Capital A/c |
1,000 |
3,000 |
|||
|
|
|
|
||||
|
1,81,100 |
|
1,81,100 |
||||
|
|
|
|
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Realisation A/c (Investment) |
18,000 |
– |
– |
Balance b/d |
30,000 |
25,000 |
15,000 |
||
Realisation A/c (Loss) |
1,000 |
1,000 |
1,000 |
Reserve |
4,000 |
4,000 |
4,000 |
||
Cash A/c |
15,000 |
28,000 |
18,000 |
|
|
|
|
||
|
34,000 |
29,000 |
19,000 |
|
34,000 |
29,000 |
19,000 |
||
|
|
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
3,700 |
Realisation A/c |
52,400 |
||
Realisation A/c |
1,09,700 |
A’s Capital A/c |
15,000 |
||
|
|
B’s Capital A/c |
28,000 |
||
|
|
C’s Capital A/c |
18,000 |
||
|
1,13,400 |
|
1,13,400 |
||
|
|
|
|
||
Page No 6.64:
Question 23:
Realisation Account |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Stock |
20,100 |
Creditors |
50,400 |
||||
Debtors |
62,600 |
|
|
||||
Investments |
16,000 |
A’s Capital A/c (Investments) |
18,000 |
||||
Furniture |
6,500 |
Cash A/c: |
|
||||
Building |
23,500 |
Furniture and Building |
29,700 |
|
|||
Cash A/c: |
|
Stock and Debtors |
80,000 |
1,09,700 |
|||
Expenses |
1,300 |
|
|
|
|||
Creditors |
49,600 |
|
|
|
|||
Bills |
1,500 |
52,400 |
Loss transferred to : |
|
|||
|
|
A’s Capital A/c |
1,000 |
|
|||
|
|
B’s Capital A/c |
1,000 |
|
|||
|
|
C’s Capital A/c |
1,000 |
3,000 |
|||
|
|
|
|
||||
|
1,81,100 |
|
1,81,100 |
||||
|
|
|
|
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Realisation A/c (Investment) |
18,000 |
– |
– |
Balance b/d |
30,000 |
25,000 |
15,000 |
||
Realisation A/c (Loss) |
1,000 |
1,000 |
1,000 |
Reserve |
4,000 |
4,000 |
4,000 |
||
Cash A/c |
15,000 |
28,000 |
18,000 |
|
|
|
|
||
|
34,000 |
29,000 |
19,000 |
|
34,000 |
29,000 |
19,000 |
||
|
|
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
3,700 |
Realisation A/c |
52,400 |
||
Realisation A/c |
1,09,700 |
A’s Capital A/c |
15,000 |
||
|
|
B’s Capital A/c |
28,000 |
||
|
|
C’s Capital A/c |
18,000 |
||
|
1,13,400 |
|
1,13,400 |
||
|
|
|
|
||
Answer:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Land and Building |
57,000 |
Creditors |
40,000 |
|||||
Stock |
50,000 |
Bank |
|
|||||
Sundry Debtors |
50,000 |
Land and building |
40,000 |
|
||||
|
|
Stock |
30,000 |
|
||||
Bank A/c: |
|
Sundry Debtors |
42,000 |
1,12,000 |
||||
Creditors (40,000 + 15,000) |
55,000 |
|
|
|
||||
Expenses |
1,200 |
56,200 |
Loss transferred to: |
|
||||
|
|
A’s Capital A/c |
30,600 |
|
||||
|
|
B’s Capital A/c |
20,400 |
|
||||
|
|
C’s Capital A/c |
10,200 |
61,200 |
||||
|
2,13,200 |
|
2,13,200 |
|||||
|
|
|
|
|||||
|
Partners’ Capital Accounts |
|
|||||||||
|
Dr. |
|
Cr. |
|
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||||
Realisation A/c (Loss) |
30,600 |
20,400 |
10,200 |
Balance b/d |
60,000 |
40,000 |
10,000 |
||||
Bank A/c |
29,400 |
19,600 |
– |
Bank A/c |
– |
– |
200 |
||||
|
|
|
|
|
|
|
|
||||
|
60,000 |
40,000 |
10,200 |
|
60,000 |
40,000 |
10,200 |
||||
|
|
|
|
|
|
|
|
||||
A’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
|
|
Balance b/d |
10,000 |
||
Bank A/c |
10,000 |
|
|
||
|
|
|
|
||
|
10,000 |
|
10,000 |
||
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
3,000 |
Realisation A/c |
56,200 |
||
Realisation A/c |
1,12,000 |
A’s Capital A/c |
29,400 |
||
C’s Capital A/c |
200 |
B’s Capital A/c |
19,600 |
||
|
|
A’s Loan A/c |
10,000 |
||
|
1,15,200 |
|
1,15,200 |
||
|
|
|
|
Page No 6.64:
Question 24:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Land and Building |
57,000 |
Creditors |
40,000 |
|||||
Stock |
50,000 |
Bank |
|
|||||
Sundry Debtors |
50,000 |
Land and building |
40,000 |
|
||||
|
|
Stock |
30,000 |
|
||||
Bank A/c: |
|
Sundry Debtors |
42,000 |
1,12,000 |
||||
Creditors (40,000 + 15,000) |
55,000 |
|
|
|
||||
Expenses |
1,200 |
56,200 |
Loss transferred to: |
|
||||
|
|
A’s Capital A/c |
30,600 |
|
||||
|
|
B’s Capital A/c |
20,400 |
|
||||
|
|
C’s Capital A/c |
10,200 |
61,200 |
||||
|
2,13,200 |
|
2,13,200 |
|||||
|
|
|
|
|||||
|
Partners’ Capital Accounts |
|
|||||||||
|
Dr. |
|
Cr. |
|
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||||
Realisation A/c (Loss) |
30,600 |
20,400 |
10,200 |
Balance b/d |
60,000 |
40,000 |
10,000 |
||||
Bank A/c |
29,400 |
19,600 |
– |
Bank A/c |
– |
– |
200 |
||||
|
|
|
|
|
|
|
|
||||
|
60,000 |
40,000 |
10,200 |
|
60,000 |
40,000 |
10,200 |
||||
|
|
|
|
|
|
|
|
||||
A’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
|
|
Balance b/d |
10,000 |
||
Bank A/c |
10,000 |
|
|
||
|
|
|
|
||
|
10,000 |
|
10,000 |
||
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
3,000 |
Realisation A/c |
56,200 |
||
Realisation A/c |
1,12,000 |
A’s Capital A/c |
29,400 |
||
C’s Capital A/c |
200 |
B’s Capital A/c |
19,600 |
||
|
|
A’s Loan A/c |
10,000 |
||
|
1,15,200 |
|
1,15,200 |
||
|
|
|
|
Answer:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Sundry Debtors |
26,000 |
Provision for Doubtful Debts |
2,000 |
|||||
Investments |
40,000 |
Bank Overdraft |
30,000 |
|||||
Stock |
10,000 |
Investments Fluctuation Fund |
20,000 |
|||||
Furniture |
10,000 |
|
|
|||||
Building |
60,000 |
A’s Capital A/c (Investments) |
35,000 |
|||||
Bank A/c: |
|
Bank A/c: |
|
|||||
Compensation to Employees |
10,000 |
|
Sundry Debtors |
26,000 |
|
|||
Bank Overdraft |
30,000 |
40,000 |
Stock |
8,500 |
|
|||
Profit transferred to: |
|
Furniture |
8,000 |
|
||||
A’s Capital A/c |
29,000 |
|
Building |
1,00,000 |
1,42,500 |
|||
B’s Capital A/c |
14,500 |
43,500 |
|
|
||||
|
2,29,500 |
|
2,29,500 |
|||||
|
|
|
|
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Balance b/d |
– |
30,000 |
Balance b/d |
50,000 |
– |
||
Realisation A/c (Investment) |
35,000 |
|
General Reserve A/c |
37,333 |
18,667 |
||
Bank A/c |
81,333 |
3,167 |
Realisation A/c (Profit ) |
29,000 |
14,500 |
||
|
|
|
|
|
|
||
|
1,16,333 |
33,167 |
|
1,16,333 |
33,167 |
||
|
|
|
|
|
|
||
A’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
|
|
Balance b/d |
34,000 |
||
Bank A/c |
34,000 |
|
|
||
|
34,000 |
|
34,000 |
||
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
10,000 |
Realisation A/c |
40,000 |
||
Cash A/c |
6,000 |
A’s Capital A/c |
81,333 |
||
Realisation A/c |
1,42,500 |
B’s Capital A/c |
3,167 |
||
|
|
A’s Loan A/c |
34,000 |
||
|
1,58,500 |
|
1,58,500 |
||
|
|
|
|
Page No 6.65:
Question 25:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Sundry Debtors |
26,000 |
Provision for Doubtful Debts |
2,000 |
|||||
Investments |
40,000 |
Bank Overdraft |
30,000 |
|||||
Stock |
10,000 |
Investments Fluctuation Fund |
20,000 |
|||||
Furniture |
10,000 |
|
|
|||||
Building |
60,000 |
A’s Capital A/c (Investments) |
35,000 |
|||||
Bank A/c: |
|
Bank A/c: |
|
|||||
Compensation to Employees |
10,000 |
|
Sundry Debtors |
26,000 |
|
|||
Bank Overdraft |
30,000 |
40,000 |
Stock |
8,500 |
|
|||
Profit transferred to: |
|
Furniture |
8,000 |
|
||||
A’s Capital A/c |
29,000 |
|
Building |
1,00,000 |
1,42,500 |
|||
B’s Capital A/c |
14,500 |
43,500 |
|
|
||||
|
2,29,500 |
|
2,29,500 |
|||||
|
|
|
|
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Balance b/d |
– |
30,000 |
Balance b/d |
50,000 |
– |
||
Realisation A/c (Investment) |
35,000 |
|
General Reserve A/c |
37,333 |
18,667 |
||
Bank A/c |
81,333 |
3,167 |
Realisation A/c (Profit ) |
29,000 |
14,500 |
||
|
|
|
|
|
|
||
|
1,16,333 |
33,167 |
|
1,16,333 |
33,167 |
||
|
|
|
|
|
|
||
A’s Loan Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
|
|
Balance b/d |
34,000 |
||
Bank A/c |
34,000 |
|
|
||
|
34,000 |
|
34,000 |
||
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
10,000 |
Realisation A/c |
40,000 |
||
Cash A/c |
6,000 |
A’s Capital A/c |
81,333 |
||
Realisation A/c |
1,42,500 |
B’s Capital A/c |
3,167 |
||
|
|
A’s Loan A/c |
34,000 |
||
|
1,58,500 |
|
1,58,500 |
||
|
|
|
|
Answer:
Realisation Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Land |
8,000 |
Depreciation on Plant |
1,000 |
||
Plant |
17,000 |
Provision for Doubtful Debts |
2,000 |
||
Loose tools |
3,000 |
Sundry Creditors |
9,000 |
||
Stock |
20,000 |
Amar’s Capital A/c: |
|
||
Sundry Debtors |
30,000 |
Good will |
10,000 |
|
|
|
|
Land |
8,000 |
|
|
|
|
Plant |
12,000 |
30,000 |
|
Bank A/c: |
|
Bank A/c: |
|
||
Sundry Creditors |
8,100 |
|
Loose Tools |
2,000 |
|
Expenses |
1,500 |
|
Stock |
15,000 |
|
Contingent Liability |
1,000 |
10,600 |
Sundry Debtors |
22,000 |
39,000 |
|
|
Loss transferred to: |
|
||
|
|
Amar’s Capital A/c |
3,040 |
|
|
|
|
Akbar’s Capital A/c |
3,040 |
|
|
|
|
Antony’s Capital A/c |
1,520 |
7,600 |
|
|
88,600 |
|
88,600 |
||
|
|
|
|
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Amar |
Akbar |
Antony |
Particulars |
Amar |
Akbar |
Antony |
||
Realisation A/c |
30,000 |
– |
– |
Balance b/d |
24,000 |
20,000 |
15,000 |
||
Realisation A/c (Loss) |
3,040 |
3,040 |
1,520 |
Reserve Fund |
2,000 |
2,000 |
1,000 |
||
Bank A/c |
– |
18,960 |
14,480 |
Amar’s Loan A/c |
7,000 |
– |
– |
||
|
|
|
|
Bank A/c |
40 |
– |
– |
||
|
33,040 |
22,000 |
16,000 |
|
33,040 |
22,000 |
16,000 |
||
|
|
|
|
|
|
|
|
Bank Account |
||||
Dr. |
|
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Balance b/d |
5,000 |
Realisation A/c |
10,600 |
|
Realisation A/c |
39,000 |
Akbar’s Capital A/c |
18,960 |
|
Amar’s Capital A/c |
40 |
Antony’s Capital A/c |
14,480 |
|
|
|
|
|
|
|
44,040 |
|
44,040 |
|
|
|
|
|
Page No 6.65:
Question 26:
Realisation Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Land |
8,000 |
Depreciation on Plant |
1,000 |
||
Plant |
17,000 |
Provision for Doubtful Debts |
2,000 |
||
Loose tools |
3,000 |
Sundry Creditors |
9,000 |
||
Stock |
20,000 |
Amar’s Capital A/c: |
|
||
Sundry Debtors |
30,000 |
Good will |
10,000 |
|
|
|
|
Land |
8,000 |
|
|
|
|
Plant |
12,000 |
30,000 |
|
Bank A/c: |
|
Bank A/c: |
|
||
Sundry Creditors |
8,100 |
|
Loose Tools |
2,000 |
|
Expenses |
1,500 |
|
Stock |
15,000 |
|
Contingent Liability |
1,000 |
10,600 |
Sundry Debtors |
22,000 |
39,000 |
|
|
Loss transferred to: |
|
||
|
|
Amar’s Capital A/c |
3,040 |
|
|
|
|
Akbar’s Capital A/c |
3,040 |
|
|
|
|
Antony’s Capital A/c |
1,520 |
7,600 |
|
|
88,600 |
|
88,600 |
||
|
|
|
|
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Amar |
Akbar |
Antony |
Particulars |
Amar |
Akbar |
Antony |
||
Realisation A/c |
30,000 |
– |
– |
Balance b/d |
24,000 |
20,000 |
15,000 |
||
Realisation A/c (Loss) |
3,040 |
3,040 |
1,520 |
Reserve Fund |
2,000 |
2,000 |
1,000 |
||
Bank A/c |
– |
18,960 |
14,480 |
Amar’s Loan A/c |
7,000 |
– |
– |
||
|
|
|
|
Bank A/c |
40 |
– |
– |
||
|
33,040 |
22,000 |
16,000 |
|
33,040 |
22,000 |
16,000 |
||
|
|
|
|
|
|
|
|
Bank Account |
||||
Dr. |
|
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Balance b/d |
5,000 |
Realisation A/c |
10,600 |
|
Realisation A/c |
39,000 |
Akbar’s Capital A/c |
18,960 |
|
Amar’s Capital A/c |
40 |
Antony’s Capital A/c |
14,480 |
|
|
|
|
|
|
|
44,040 |
|
44,040 |
|
|
|
|
|
Answer:
Realisation Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Furniture |
37,000 |
Investment Fluctuation Funds |
4,500 |
|
Stock |
5,500 |
Creditors |
10,000 |
|
Investments |
15,000 |
Prachi’s Capital A/c (Investments taken over) |
12,500 |
|
Cash A/c (Employee compensation paid) |
8,000 |
Cash A/c (Stock and Furniture realised) |
41,500 |
|
Cash A/c (Creditors paid) |
10,000 |
Ritika’s Capital A/c (Old Furniture taken over) |
3,000 |
|
Prachi’s Capital A/c (commission for services) |
1,000 |
Loss on Realisation transferred to: |
|
|
Cash A/c (Realisation expenses) |
1,000 |
Prachi’s Capital A/c |
3,000 |
|
|
|
Ritika’s Capital A/c |
1,800 |
|
|
|
Ishita’s Capital A/c |
1,200 |
6,000 |
|
77,500 |
|
77,500 |
|
|
|
|
|
Partners’ Capital Account |
|||||||
Dr. |
Cr. |
||||||
Particulars |
Prachi |
Ritika |
Ishita |
Particulars |
Prachi |
Ritika |
Ishita |
Balance b/d |
|
|
18,000 |
Balance b/d |
40,000 |
30,000 |
|
Realisation A/c |
12,500 |
3,000 |
|
Realisation A/c |
1,000 |
|
|
Realisation A/c (Loss) |
3,000 |
1,800 |
1,200 |
Cash A/c (Balancing Figure) |
|
|
19,200 |
Cash A/c (Balancing Figure) |
25,500 |
25,200 |
|
|
|
|
|
|
41,000 |
30,000 |
19,200 |
|
41,000 |
30,000 |
19,200 |
|
|
|
|
|
|
|
|
Cash Account |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Balance b/d |
9,000 |
Realisation A/c (Employee compensation paid) |
8,000 |
Realisation A/c (Stock and Furniture realised) |
41,500 |
Realisation A/c (Creditors paid) |
10,000 |
Ishita’s Capital A/c |
19,200 |
Realisation A/c (Commission for services) |
1,000 |
|
|
Prachi’s Capital A/c |
25,500 |
|
|
Ritika’s Capital A/c |
25,200 |
|
69,700 |
|
69,700 |
|
|
|
|
The following are the values involved in the scenario depicted in the question.
- Making people aware of the water pollution.
- Environmental degradation
- Violation of rules and regulations and overlooking the repeated notifications by the authorities.
- Violating the social values
Page No 6.66:
Question 27:
Realisation Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Furniture |
37,000 |
Investment Fluctuation Funds |
4,500 |
|
Stock |
5,500 |
Creditors |
10,000 |
|
Investments |
15,000 |
Prachi’s Capital A/c (Investments taken over) |
12,500 |
|
Cash A/c (Employee compensation paid) |
8,000 |
Cash A/c (Stock and Furniture realised) |
41,500 |
|
Cash A/c (Creditors paid) |
10,000 |
Ritika’s Capital A/c (Old Furniture taken over) |
3,000 |
|
Prachi’s Capital A/c (commission for services) |
1,000 |
Loss on Realisation transferred to: |
|
|
Cash A/c (Realisation expenses) |
1,000 |
Prachi’s Capital A/c |
3,000 |
|
|
|
Ritika’s Capital A/c |
1,800 |
|
|
|
Ishita’s Capital A/c |
1,200 |
6,000 |
|
77,500 |
|
77,500 |
|
|
|
|
|
Partners’ Capital Account |
|||||||
Dr. |
Cr. |
||||||
Particulars |
Prachi |
Ritika |
Ishita |
Particulars |
Prachi |
Ritika |
Ishita |
Balance b/d |
|
|
18,000 |
Balance b/d |
40,000 |
30,000 |
|
Realisation A/c |
12,500 |
3,000 |
|
Realisation A/c |
1,000 |
|
|
Realisation A/c (Loss) |
3,000 |
1,800 |
1,200 |
Cash A/c (Balancing Figure) |
|
|
19,200 |
Cash A/c (Balancing Figure) |
25,500 |
25,200 |
|
|
|
|
|
|
41,000 |
30,000 |
19,200 |
|
41,000 |
30,000 |
19,200 |
|
|
|
|
|
|
|
|
Cash Account |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Balance b/d |
9,000 |
Realisation A/c (Employee compensation paid) |
8,000 |
Realisation A/c (Stock and Furniture realised) |
41,500 |
Realisation A/c (Creditors paid) |
10,000 |
Ishita’s Capital A/c |
19,200 |
Realisation A/c (Commission for services) |
1,000 |
|
|
Prachi’s Capital A/c |
25,500 |
|
|
Ritika’s Capital A/c |
25,200 |
|
69,700 |
|
69,700 |
|
|
|
|
The following are the values involved in the scenario depicted in the question.
- Making people aware of the water pollution.
- Environmental degradation
- Violation of rules and regulations and overlooking the repeated notifications by the authorities.
- Violating the social values
Answer:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Stock |
75,000 |
Provision for Doubtful Debts |
6,000 |
|||||
Book Debts |
66,000 |
Sundry Creditors |
75,000 |
|||||
Plant and Machinery |
45,000 |
Bills Payable |
30,000 |
|||||
Land and building |
48,000 |
Mr. Chowdhary’s Loan |
15,000 |
|||||
Mrs. Rita Chowdhary’s Capital A/c (Mr. Chowdhary’s Loan A/c) |
15,000 |
Mrs. Rita Chowdhary’s Capital A/c: |
|
|||||
Bank A/c: |
|
Stock |
30,000 |
|
||||
Sundry Creditors |
67,500 |
|
Goodwill |
30,000 |
60,000 |
|||
Bills Payable |
30,000 |
|
Bank A/c: |
|
||||
Expenses |
5,250 |
1,02,750 |
Book Debts |
54,000 |
|
|||
Profit transferred to: |
|
Stock |
48,750 |
|
||||
Mrs. Rita Chowdhary’s Capital A/c |
66,000 |
|
Plant and Machinery |
75,000 |
|
|||
Miss Sobha’s Capital A/c |
66,000 |
1,32,000 |
Land and Building |
1,20,000 |
2,97,750 |
|||
|
4,83,750 |
|
4,83,750 |
|||||
|
|
|
|
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Mrs. Rita Chowdhary |
Miss Sobha |
Particulars |
Mrs. Rita Chowdhary |
Miss Sobha |
||
Realisation A/c (Assets) |
60,000 |
– |
Balance b/d |
90,000 |
30,000 |
||
|
|
|
Reserve Fund |
12,000 |
12,000 |
||
|
|
|
Realisation A/c (Mr. Chowdhary Loan) |
15,000 |
– |
||
|
|
|
|
|
|
||
Bank A/c |
1,23,000 |
1,08,000 |
Realisation A/c (Profit) |
66,000 |
66,000 |
||
|
|
|
|
|
|
||
|
1,83,000 |
1,08,000 |
|
1,83,000 |
1,08,000 |
||
|
|
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
30,000 |
Realisation A/c |
1,02,750 |
||
Cash A/c |
6,000 |
Mrs. Rita Chowdhary’s Capital A/c |
1,23,000 |
||
Realisation A/c |
2,97,750 |
Miss Sobha’s Capital A/c |
1,08,000 |
||
|
|
|
|
||
|
3,33,750 |
|
3,33,750 |
||
|
|
|
|
Working Notes
WN 1 Value of Stock taken by Mrs. Rita Chowdhary
WN 2 Value of Stock sold
Page No 6.66:
Question 28:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Stock |
75,000 |
Provision for Doubtful Debts |
6,000 |
|||||
Book Debts |
66,000 |
Sundry Creditors |
75,000 |
|||||
Plant and Machinery |
45,000 |
Bills Payable |
30,000 |
|||||
Land and building |
48,000 |
Mr. Chowdhary’s Loan |
15,000 |
|||||
Mrs. Rita Chowdhary’s Capital A/c (Mr. Chowdhary’s Loan A/c) |
15,000 |
Mrs. Rita Chowdhary’s Capital A/c: |
|
|||||
Bank A/c: |
|
Stock |
30,000 |
|
||||
Sundry Creditors |
67,500 |
|
Goodwill |
30,000 |
60,000 |
|||
Bills Payable |
30,000 |
|
Bank A/c: |
|
||||
Expenses |
5,250 |
1,02,750 |
Book Debts |
54,000 |
|
|||
Profit transferred to: |
|
Stock |
48,750 |
|
||||
Mrs. Rita Chowdhary’s Capital A/c |
66,000 |
|
Plant and Machinery |
75,000 |
|
|||
Miss Sobha’s Capital A/c |
66,000 |
1,32,000 |
Land and Building |
1,20,000 |
2,97,750 |
|||
|
4,83,750 |
|
4,83,750 |
|||||
|
|
|
|
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Mrs. Rita Chowdhary |
Miss Sobha |
Particulars |
Mrs. Rita Chowdhary |
Miss Sobha |
||
Realisation A/c (Assets) |
60,000 |
– |
Balance b/d |
90,000 |
30,000 |
||
|
|
|
Reserve Fund |
12,000 |
12,000 |
||
|
|
|
Realisation A/c (Mr. Chowdhary Loan) |
15,000 |
– |
||
|
|
|
|
|
|
||
Bank A/c |
1,23,000 |
1,08,000 |
Realisation A/c (Profit) |
66,000 |
66,000 |
||
|
|
|
|
|
|
||
|
1,83,000 |
1,08,000 |
|
1,83,000 |
1,08,000 |
||
|
|
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
30,000 |
Realisation A/c |
1,02,750 |
||
Cash A/c |
6,000 |
Mrs. Rita Chowdhary’s Capital A/c |
1,23,000 |
||
Realisation A/c |
2,97,750 |
Miss Sobha’s Capital A/c |
1,08,000 |
||
|
|
|
|
||
|
3,33,750 |
|
3,33,750 |
||
|
|
|
|
Working Notes
WN 1 Value of Stock taken by Mrs. Rita Chowdhary
WN 2 Value of Stock sold
Answer:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Stock |
7,500 |
Provision for Doubtful Debts |
3,000 |
|||||
Investments |
15,000 |
Trade Creditors |
45,000 |
|||||
Book Debts |
30,000 |
Bills Payable |
12,000 |
|||||
Building |
22,500 |
Mrs. Arvid’s Loan |
7,500 |
|||||
Plant |
30,000 |
Mrs. Balbir’s Loan |
15,000 |
|||||
Goodwill |
6,000 |
Investments Fluctuation Fund |
1,500 |
|||||
|
|
|
|
|||||
Arvind’s Capital A/c (Mrs. Arvind’s Loan) |
7,500 |
Arvind’s Capital A/c (Stock) |
6,000 |
|||||
Bank A/c: |
|
Balbir’s Capital A/c (Investments 7500 × 90%) |
6,750 |
|||||
Trade Creditors |
44,925 |
|
Balbir’s Capital A/c (Unrecorded Typewriter ) |
450 |
||||
Bills Payable |
11,980 |
|
Bank A/c: |
|
||||
Expense |
1,500 |
|
Book Debts |
28,500 |
|
|||
Mrs. Balbir’s Loan |
15,000 |
73,405 |
Plant |
37,500 |
|
|||
Profit transferred to: |
|
Building |
60,000 |
|
||||
Arvind’s Capital A/c |
23,522.50 |
|
Goodwill |
9,000 |
|
|||
Balbir’s Capital A/c |
23,522.50 |
47,045 |
Investments |
6,750 |
1,41,750 |
|||
|
|
|
|
|||||
|
2,38,950 |
|
2,38,950 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Arvind |
Balbir |
Particulars |
Arvind |
Balbir |
||
Profit and Loss A/c |
2,625 |
2,625 |
Balance b/d |
15,000 |
15,000 |
||
Realisation A/c (Assets) |
6,000 |
7,200 |
Realisation A/c |
7,500 |
– |
||
Bank A/c |
44,897.50 |
36,197.50 |
Reserve Fund |
7,500 |
7,500 |
||
|
|
|
Realisation A/c (Profit) |
23,522.50 |
23,522.50 |
||
|
|
|
|
|
|
||
|
53,522.50 |
46,022.50 |
|
53,522.50 |
46,022.50 |
||
|
|
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
12,000 |
Realisation A/c |
73,405 |
||
Cash A/c |
750 |
Arvind’s Capital A/c |
44,897.5 |
||
Realisation A/c |
1,41,750 |
Balbir’s Capital A/c |
36,197.5 |
||
|
|
|
|
||
|
1,54,500 |
|
1,54,500 |
||
|
|
|
|
Working Notes:
Creditors |
45,000 |
Less:2% discount for 1 month |
(75) |
Payment made to Creditors |
44,925 |
|
|
Bills Payable |
12,000 |
Less: 2% discount for 1 month |
(20) |
Payment made for Bills Payable |
11,980 |
Page No 6.67:
Question 29:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Stock |
7,500 |
Provision for Doubtful Debts |
3,000 |
|||||
Investments |
15,000 |
Trade Creditors |
45,000 |
|||||
Book Debts |
30,000 |
Bills Payable |
12,000 |
|||||
Building |
22,500 |
Mrs. Arvid’s Loan |
7,500 |
|||||
Plant |
30,000 |
Mrs. Balbir’s Loan |
15,000 |
|||||
Goodwill |
6,000 |
Investments Fluctuation Fund |
1,500 |
|||||
|
|
|
|
|||||
Arvind’s Capital A/c (Mrs. Arvind’s Loan) |
7,500 |
Arvind’s Capital A/c (Stock) |
6,000 |
|||||
Bank A/c: |
|
Balbir’s Capital A/c (Investments 7500 × 90%) |
6,750 |
|||||
Trade Creditors |
44,925 |
|
Balbir’s Capital A/c (Unrecorded Typewriter ) |
450 |
||||
Bills Payable |
11,980 |
|
Bank A/c: |
|
||||
Expense |
1,500 |
|
Book Debts |
28,500 |
|
|||
Mrs. Balbir’s Loan |
15,000 |
73,405 |
Plant |
37,500 |
|
|||
Profit transferred to: |
|
Building |
60,000 |
|
||||
Arvind’s Capital A/c |
23,522.50 |
|
Goodwill |
9,000 |
|
|||
Balbir’s Capital A/c |
23,522.50 |
47,045 |
Investments |
6,750 |
1,41,750 |
|||
|
|
|
|
|||||
|
2,38,950 |
|
2,38,950 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Arvind |
Balbir |
Particulars |
Arvind |
Balbir |
||
Profit and Loss A/c |
2,625 |
2,625 |
Balance b/d |
15,000 |
15,000 |
||
Realisation A/c (Assets) |
6,000 |
7,200 |
Realisation A/c |
7,500 |
– |
||
Bank A/c |
44,897.50 |
36,197.50 |
Reserve Fund |
7,500 |
7,500 |
||
|
|
|
Realisation A/c (Profit) |
23,522.50 |
23,522.50 |
||
|
|
|
|
|
|
||
|
53,522.50 |
46,022.50 |
|
53,522.50 |
46,022.50 |
||
|
|
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
12,000 |
Realisation A/c |
73,405 |
||
Cash A/c |
750 |
Arvind’s Capital A/c |
44,897.5 |
||
Realisation A/c |
1,41,750 |
Balbir’s Capital A/c |
36,197.5 |
||
|
|
|
|
||
|
1,54,500 |
|
1,54,500 |
||
|
|
|
|
Working Notes:
Creditors |
45,000 |
Less:2% discount for 1 month |
(75) |
Payment made to Creditors |
44,925 |
|
|
Bills Payable |
12,000 |
Less: 2% discount for 1 month |
(20) |
Payment made for Bills Payable |
11,980 |
Answer:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Debtors |
75,000 |
Creditors |
50,000 |
|||||
Stock |
40,000 |
Bank Loan |
35,000 |
|||||
Investments |
20,000 |
Provident Fund |
15,000 |
|||||
Plant |
50,000 |
Commission Received in Advance |
8,000 |
|||||
Cash A/c: |
|
Investments Fluctuation Fund |
10,000 |
|||||
Commision Received in Advance |
5,000 |
|
Cash A/c: |
|
||||
Outstanding Salary |
8,500 |
|
Debtors |
60,000 |
|
|||
Compensation paid to Employees |
17,000 |
|
Stock |
35,500 |
|
|||
Provident Fund |
20,000 |
|
Investments |
16,000 |
|
|||
Creditors |
50,000 |
|
Plant |
45,000 |
1,56,500 |
|||
Bank Loan |
35,000 |
1,35,500 |
Loss transferred to: |
|
||||
Anuj’s Capital A/c (Commission) |
7,825 |
Anju’s Capital A/c |
21,530 |
|
||||
|
|
Manju’s Capital A/c |
21,530 |
|
||||
|
|
Sanju’s Capital A/c |
10,765 |
53,825 |
||||
|
3,28,325 |
|
3,28,325 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Anju |
Manju |
Sanju |
Particulars |
Anju |
Manju |
Sanju |
||
Profit and Loss A/c |
1,200 |
1,200 |
600 |
Balance b/d |
50,000 |
50,000 |
30,000 |
||
Realisation A/c |
21,530 |
21,530 |
10,765 |
Realisation A/c |
7,825 |
– |
– |
||
Cash A/c |
35,095 |
27,270 |
18,635 |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
57,825 |
50,000 |
30,000 |
|
57,825 |
50,000 |
30,000 |
||
|
|
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
60,000 |
Realisation A/c |
1,35,500 |
||
Realisation A/c |
1,56,500 |
Anju’s Capital A/c |
35,095 |
||
|
|
Manju’s Capital A/c |
27,270 |
||
|
|
Sanju’s Capital A/c |
18,635 |
||
|
|
|
|
||
|
2,16,500 |
|
2,16,500 |
||
|
|
|
|
Working Notes:
WN 1
WN 2
Page No 6.67:
Question 30:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Debtors |
75,000 |
Creditors |
50,000 |
|||||
Stock |
40,000 |
Bank Loan |
35,000 |
|||||
Investments |
20,000 |
Provident Fund |
15,000 |
|||||
Plant |
50,000 |
Commission Received in Advance |
8,000 |
|||||
Cash A/c: |
|
Investments Fluctuation Fund |
10,000 |
|||||
Commision Received in Advance |
5,000 |
|
Cash A/c: |
|
||||
Outstanding Salary |
8,500 |
|
Debtors |
60,000 |
|
|||
Compensation paid to Employees |
17,000 |
|
Stock |
35,500 |
|
|||
Provident Fund |
20,000 |
|
Investments |
16,000 |
|
|||
Creditors |
50,000 |
|
Plant |
45,000 |
1,56,500 |
|||
Bank Loan |
35,000 |
1,35,500 |
Loss transferred to: |
|
||||
Anuj’s Capital A/c (Commission) |
7,825 |
Anju’s Capital A/c |
21,530 |
|
||||
|
|
Manju’s Capital A/c |
21,530 |
|
||||
|
|
Sanju’s Capital A/c |
10,765 |
53,825 |
||||
|
3,28,325 |
|
3,28,325 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Anju |
Manju |
Sanju |
Particulars |
Anju |
Manju |
Sanju |
||
Profit and Loss A/c |
1,200 |
1,200 |
600 |
Balance b/d |
50,000 |
50,000 |
30,000 |
||
Realisation A/c |
21,530 |
21,530 |
10,765 |
Realisation A/c |
7,825 |
– |
– |
||
Cash A/c |
35,095 |
27,270 |
18,635 |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
57,825 |
50,000 |
30,000 |
|
57,825 |
50,000 |
30,000 |
||
|
|
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
60,000 |
Realisation A/c |
1,35,500 |
||
Realisation A/c |
1,56,500 |
Anju’s Capital A/c |
35,095 |
||
|
|
Manju’s Capital A/c |
27,270 |
||
|
|
Sanju’s Capital A/c |
18,635 |
||
|
|
|
|
||
|
2,16,500 |
|
2,16,500 |
||
|
|
|
|
Working Notes:
WN 1
WN 2
Answer:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Building |
2,000 |
Creditors |
1,121 |
|||||
Plant |
3,122 |
Reserve for Depreciation on Plant |
2,000 |
|||||
Good will |
1,000 |
A’s Capital A/c: |
|
|||||
100 Shares in X Ltd. |
240 |
Building |
3,150 |
|
||||
1,000 Shares in Y Ltd. |
1,000 |
Shares of Y Ltd. |
700 |
3,850 |
||||
Stock |
1,124 |
B’s Capital A/c: |
|
|||||
Debtors |
874 |
Good will |
1,000 |
|
||||
Patents |
3,808 |
Stock |
1,124 |
|
||||
B’s Capital A/c (Creditors) |
1,121 |
Debtors |
874 |
|
||||
|
|
Patents |
3,000 |
|
||||
|
|
Plant |
500 |
|
||||
|
|
Shares of Y Ltd. |
200 |
6,698 |
||||
|
|
C’s Capital: |
|
|||||
|
|
Shares of X Ltd. |
150 |
|
||||
|
|
Shares of Y Ltd. |
100 |
250 |
||||
|
|
Loss transferred to: |
|
|||||
|
|
A’s Capital A/c |
259 |
|
||||
|
|
B’s Capital A/c |
74 |
|
||||
|
|
C’s Capital A/c |
37 |
370 |
||||
|
|
|
|
|||||
|
14,289 |
|
14,289 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
|
Realisation A/c (Assets) |
3,850 |
6,698 |
250 |
Balance b/d |
1,241 |
865 |
8,062 |
|
Realisation A/c (Loss) |
259 |
74 |
37 |
Realisation A/c (Creditors) |
– |
1,121 |
– |
|
Bank A/c |
– |
– |
7,775 |
Bank A/c |
2,868 |
4,786 |
|
|
|
|
|
|
|
|
|
|
|
|
4,109 |
6,772 |
8,062 |
|
4,109 |
6,772 |
8,062 |
|
|
|
|
|
|
|
|
|
|
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
121 |
C’s Capital A/c |
7,775 |
||
A’s Capital A/c |
2,868 |
|
|
||
B’s Capital A/c |
4,786 |
|
|
||
|
7,775 |
|
7,775 |
||
|
|
|
|
Working Notes:
Distribution of Shares in Y Ltd.
Page No 6.68:
Question 31:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Building |
2,000 |
Creditors |
1,121 |
|||||
Plant |
3,122 |
Reserve for Depreciation on Plant |
2,000 |
|||||
Good will |
1,000 |
A’s Capital A/c: |
|
|||||
100 Shares in X Ltd. |
240 |
Building |
3,150 |
|
||||
1,000 Shares in Y Ltd. |
1,000 |
Shares of Y Ltd. |
700 |
3,850 |
||||
Stock |
1,124 |
B’s Capital A/c: |
|
|||||
Debtors |
874 |
Good will |
1,000 |
|
||||
Patents |
3,808 |
Stock |
1,124 |
|
||||
B’s Capital A/c (Creditors) |
1,121 |
Debtors |
874 |
|
||||
|
|
Patents |
3,000 |
|
||||
|
|
Plant |
500 |
|
||||
|
|
Shares of Y Ltd. |
200 |
6,698 |
||||
|
|
C’s Capital: |
|
|||||
|
|
Shares of X Ltd. |
150 |
|
||||
|
|
Shares of Y Ltd. |
100 |
250 |
||||
|
|
Loss transferred to: |
|
|||||
|
|
A’s Capital A/c |
259 |
|
||||
|
|
B’s Capital A/c |
74 |
|
||||
|
|
C’s Capital A/c |
37 |
370 |
||||
|
|
|
|
|||||
|
14,289 |
|
14,289 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
|
Realisation A/c (Assets) |
3,850 |
6,698 |
250 |
Balance b/d |
1,241 |
865 |
8,062 |
|
Realisation A/c (Loss) |
259 |
74 |
37 |
Realisation A/c (Creditors) |
– |
1,121 |
– |
|
Bank A/c |
– |
– |
7,775 |
Bank A/c |
2,868 |
4,786 |
|
|
|
|
|
|
|
|
|
|
|
|
4,109 |
6,772 |
8,062 |
|
4,109 |
6,772 |
8,062 |
|
|
|
|
|
|
|
|
|
|
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
121 |
C’s Capital A/c |
7,775 |
||
A’s Capital A/c |
2,868 |
|
|
||
B’s Capital A/c |
4,786 |
|
|
||
|
7,775 |
|
7,775 |
||
|
|
|
|
Working Notes:
Distribution of Shares in Y Ltd.
Answer:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Building |
10,000 |
Employee’s Provident Fund |
3,000 |
|||||
Plant |
22,000 |
Depreciation Reserve |
5,000 |
|||||
Stock |
12,200 |
Creditors |
11,000 |
|||||
Debtors |
5,000 |
J’s Capital A/c (Building) |
10,000 |
|||||
Accrued Interest |
1,000 |
Cash A/c: |
|
|||||
J’s Capital (Creditors) |
11,000 |
Plant |
25,000 |
|
||||
Cash A/c: |
|
Stock |
11,200 |
|
||||
Contingent Liability |
600 |
|
Debtors |
4,600 |
40,800 |
|||
Expenses |
600 |
|
|
|
||||
Provident Fund |
3,000 |
4,200 |
|
|
||||
Profit transferred to: |
|
|
|
|||||
J’s Capital A/c |
2,200 |
|
|
|
||||
S’s Capital A/c |
1,467 |
|
|
|
||||
R’s Capital A/c |
733 |
4,400 |
|
|
||||
|
69,800 |
|
69,800 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
J |
S |
R |
Particulars |
J |
S |
R |
||
Realisation A/c (Building) |
10,000 |
– |
– |
Balance b/d |
12,000 |
8,600 |
10,400 |
||
|
|
|
|
Reserve Fund |
1,500 |
1,000 |
500 |
||
|
|
|
|
Realisation A/c (Creditors) |
11,000 |
– |
– |
||
Cash A/c |
16,700 |
11,067 |
11,633 |
Realisation A/c (Profit) |
2,200 |
1,467 |
733 |
||
|
26,700 |
11,067 |
11,633 |
|
26,700 |
11,067 |
11,633 |
||
|
|
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
2,800 |
Realisation A/c |
4,200 |
||
Realisation A/c |
40,800 |
J’s Capital A/c |
16,700 |
||
|
|
S’s Capital A/c |
11,067 |
||
|
|
R’s Capital A/c |
11,633 |
||
|
43,600 |
|
43,600 |
||
|
|
|
|
Page No 6.68:
Question 32:
Realisation Account |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Building |
10,000 |
Employee’s Provident Fund |
3,000 |
|||||
Plant |
22,000 |
Depreciation Reserve |
5,000 |
|||||
Stock |
12,200 |
Creditors |
11,000 |
|||||
Debtors |
5,000 |
J’s Capital A/c (Building) |
10,000 |
|||||
Accrued Interest |
1,000 |
Cash A/c: |
|
|||||
J’s Capital (Creditors) |
11,000 |
Plant |
25,000 |
|
||||
Cash A/c: |
|
Stock |
11,200 |
|
||||
Contingent Liability |
600 |
|
Debtors |
4,600 |
40,800 |
|||
Expenses |
600 |
|
|
|
||||
Provident Fund |
3,000 |
4,200 |
|
|
||||
Profit transferred to: |
|
|
|
|||||
J’s Capital A/c |
2,200 |
|
|
|
||||
S’s Capital A/c |
1,467 |
|
|
|
||||
R’s Capital A/c |
733 |
4,400 |
|
|
||||
|
69,800 |
|
69,800 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
J |
S |
R |
Particulars |
J |
S |
R |
||
Realisation A/c (Building) |
10,000 |
– |
– |
Balance b/d |
12,000 |
8,600 |
10,400 |
||
|
|
|
|
Reserve Fund |
1,500 |
1,000 |
500 |
||
|
|
|
|
Realisation A/c (Creditors) |
11,000 |
– |
– |
||
Cash A/c |
16,700 |
11,067 |
11,633 |
Realisation A/c (Profit) |
2,200 |
1,467 |
733 |
||
|
26,700 |
11,067 |
11,633 |
|
26,700 |
11,067 |
11,633 |
||
|
|
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
2,800 |
Realisation A/c |
4,200 |
||
Realisation A/c |
40,800 |
J’s Capital A/c |
16,700 |
||
|
|
S’s Capital A/c |
11,067 |
||
|
|
R’s Capital A/c |
11,633 |
||
|
43,600 |
|
43,600 |
||
|
|
|
|
Answer:
Realisation Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Debtors |
70,000 |
Provision for Doubtful Debts |
6,000 |
|
Stock |
50,000 |
Creditors |
40,000 |
|
Investments |
60,000 |
Bills Payable |
46,000 |
|
Furniture |
42,000 |
Employee’s Provident Fund |
32,000 |
|
Machinery |
1,36,000 |
Investment Fluctuation Fund |
16,000 |
|
Land |
1,00,000 |
Mrs. A’s Loan |
38,000 |
|
Goodwill |
30,000 |
A’s Capital A/c (Stock) |
36,000 |
|
A’s Capital A/c (Mrs.A’s Loan) |
38,000 |
B’s Capital A/c (Debtors) |
28,000 |
|
C’s Capital A/c (Creditors) |
20,000 |
C’s Capital A/c (Investments) |
54,000 |
|
Cash A/c (Expenses) |
4,000 |
Cash A/c (Debtors) 60% × 35,000 |
21,000 |
|
Cash A/c (Creditors) |
20,000 |
Cash A/c (Furniture) |
30,000 |
|
Cash A/c (Bills Payable) |
46,000 |
Cash A/c (Machinery) |
82,000 |
|
Cash A/c (Employees’ Provident Fund) |
32,000 |
Cash A/c (Land) |
1,20,000 |
|
|
|
Cash A/c (Unrecorded Assets) |
22,000 |
|
|
|
Loss on Revaluation transferred to: |
|
|
|
|
A |
30,800 |
|
|
|
B |
30,800 |
|
|
|
C |
15,400 |
77,000 |
|
6,48,000 |
|
6,48,000 |
|
|
|
|
|
Partners’ Capital Account |
|||||||
Dr. |
Cr. |
||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
Realisation A/c (Stock) |
36,000 |
- |
- |
Balance b/d |
1,20,000 |
1,00,000 |
1,00,000 |
Realisation A/c (Debtors) |
- |
28,000 |
- |
Realisation A/c (Mrs.A’s Loan) |
38,000 |
- |
- |
Realisation A/c (Investments) |
- |
- |
54,000 |
Realisation A/c (Creditors) |
- |
- |
20,000 |
Realisation A/c (Loss) |
30,800 |
30,800 |
15,400 |
|
|
|
|
Cash A/c |
91,200 |
41,200 |
50,600 |
|
|
|
|
|
1,58,000 |
1,00,000 |
1,20,000 |
|
1,58,000 |
1,00,000 |
1,20,000 |
|
|
|
|
|
|
|
|
C’s Loan A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Cash A/c |
30,000 |
Balance b/d |
30,000 |
|
30,000 |
|
30,000 |
|
|
|
|
Cash A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Balance b/d |
40,000 |
Realisation A/c (Creditors) |
20,000 |
Realisation A/c (Debtors) |
21,000 |
Realisation A/c (Expenses) |
4,000 |
Realisation A/c (Furniture) |
30,000 |
Realisation A/c (Bills Payable) |
46,000 |
Realisation A/c (Machinery) |
82,000 |
Realisation A/c (Employees’ Provident Fund) |
32,000 |
Realisation A/c (Land) |
1,20,000 |
C’s Loan A/c |
30,000 |
Realisation A/c (Unrecorded Assets) |
22,000 |
A’s Capital A/c |
91,200 |
|
|
B’s Capital A/c |
41,200 |
|
|
C’s Capital A/c |
50,600 |
|
3,15,000 |
|
3,15,000 |
|
|
|
|
Page No 6.69:
Question 33:
Realisation Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Debtors |
70,000 |
Provision for Doubtful Debts |
6,000 |
|
Stock |
50,000 |
Creditors |
40,000 |
|
Investments |
60,000 |
Bills Payable |
46,000 |
|
Furniture |
42,000 |
Employee’s Provident Fund |
32,000 |
|
Machinery |
1,36,000 |
Investment Fluctuation Fund |
16,000 |
|
Land |
1,00,000 |
Mrs. A’s Loan |
38,000 |
|
Goodwill |
30,000 |
A’s Capital A/c (Stock) |
36,000 |
|
A’s Capital A/c (Mrs.A’s Loan) |
38,000 |
B’s Capital A/c (Debtors) |
28,000 |
|
C’s Capital A/c (Creditors) |
20,000 |
C’s Capital A/c (Investments) |
54,000 |
|
Cash A/c (Expenses) |
4,000 |
Cash A/c (Debtors) 60% × 35,000 |
21,000 |
|
Cash A/c (Creditors) |
20,000 |
Cash A/c (Furniture) |
30,000 |
|
Cash A/c (Bills Payable) |
46,000 |
Cash A/c (Machinery) |
82,000 |
|
Cash A/c (Employees’ Provident Fund) |
32,000 |
Cash A/c (Land) |
1,20,000 |
|
|
|
Cash A/c (Unrecorded Assets) |
22,000 |
|
|
|
Loss on Revaluation transferred to: |
|
|
|
|
A |
30,800 |
|
|
|
B |
30,800 |
|
|
|
C |
15,400 |
77,000 |
|
6,48,000 |
|
6,48,000 |
|
|
|
|
|
Partners’ Capital Account |
|||||||
Dr. |
Cr. |
||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
Realisation A/c (Stock) |
36,000 |
- |
- |
Balance b/d |
1,20,000 |
1,00,000 |
1,00,000 |
Realisation A/c (Debtors) |
- |
28,000 |
- |
Realisation A/c (Mrs.A’s Loan) |
38,000 |
- |
- |
Realisation A/c (Investments) |
- |
- |
54,000 |
Realisation A/c (Creditors) |
- |
- |
20,000 |
Realisation A/c (Loss) |
30,800 |
30,800 |
15,400 |
|
|
|
|
Cash A/c |
91,200 |
41,200 |
50,600 |
|
|
|
|
|
1,58,000 |
1,00,000 |
1,20,000 |
|
1,58,000 |
1,00,000 |
1,20,000 |
|
|
|
|
|
|
|
|
C’s Loan A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Cash A/c |
30,000 |
Balance b/d |
30,000 |
|
30,000 |
|
30,000 |
|
|
|
|
Cash A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Balance b/d |
40,000 |
Realisation A/c (Creditors) |
20,000 |
Realisation A/c (Debtors) |
21,000 |
Realisation A/c (Expenses) |
4,000 |
Realisation A/c (Furniture) |
30,000 |
Realisation A/c (Bills Payable) |
46,000 |
Realisation A/c (Machinery) |
82,000 |
Realisation A/c (Employees’ Provident Fund) |
32,000 |
Realisation A/c (Land) |
1,20,000 |
C’s Loan A/c |
30,000 |
Realisation A/c (Unrecorded Assets) |
22,000 |
A’s Capital A/c |
91,200 |
|
|
B’s Capital A/c |
41,200 |
|
|
C’s Capital A/c |
50,600 |
|
3,15,000 |
|
3,15,000 |
|
|
|
|
Answer:
Realisation Account |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||||
Trade Marks |
1,200 |
Provision for Bad Debts |
400 |
||||||
Machinery |
12,000 |
Bank Loan |
1,500 |
||||||
Furniture |
400 |
Creditors for Goods |
8,000 |
||||||
Stock |
6,000 |
Bills Payable |
500 |
||||||
Debtors |
9,000 |
|
|
||||||
Bank A/c: |
|
Bank A/c: |
|
||||||
Bank Loan |
1,500 |
|
Goodwill |
1,000 |
|
||||
Creditors |
7,920 |
|
Debtors |
8,100 |
|
||||
Bills Payable |
500 |
|
Trade Marks |
800 |
|
||||
Expense |
800 |
10,720 |
Unrecorded Assets |
200 |
10,100 |
||||
|
|
Krishna’s Capital A/c: |
|
||||||
|
|
Machinery |
14,400 |
|
|||||
|
|
Stock in Trade |
3,600 |
18,000 |
|||||
|
|
Loss transferred to: |
|
||||||
|
|
Krishna’s Capital A/c |
656 |
|
|||||
|
|
Arjun’s Capital A/c |
164 |
820 |
|||||
|
|
|
|
||||||
|
39,320 |
|
39,320 |
||||||
|
|
|
|
||||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Krishna |
Arjun |
Particulars |
Krishna |
Arjun |
||
Advertisement Suspense A/c |
800 |
200 |
Balance b/d |
16,000 |
6,000 |
||
Realisation A/c (Assets ) |
18,000 |
– |
|
|
|
||
Realisation A/c (Loss) |
656 |
164 |
Bank A/c |
3,456 |
– |
||
Bank A/c |
– |
5,636 |
|
|
|
||
|
19,456 |
6,000 |
|
19,456 |
6,000 |
||
|
|
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
2,800 |
Realisation A/c |
10,720 |
||
Realisation A/c |
10,100 |
Arjun’s Capital A/c |
5,636 |
||
Krishna’s Capital A/c |
3,456 |
|
|
||
|
|
|
|
||
|
16,356 |
|
16,356 |
||
|
|
|
|
Page No 6.69:
Question 34:
Realisation Account |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||||
Trade Marks |
1,200 |
Provision for Bad Debts |
400 |
||||||
Machinery |
12,000 |
Bank Loan |
1,500 |
||||||
Furniture |
400 |
Creditors for Goods |
8,000 |
||||||
Stock |
6,000 |
Bills Payable |
500 |
||||||
Debtors |
9,000 |
|
|
||||||
Bank A/c: |
|
Bank A/c: |
|
||||||
Bank Loan |
1,500 |
|
Goodwill |
1,000 |
|
||||
Creditors |
7,920 |
|
Debtors |
8,100 |
|
||||
Bills Payable |
500 |
|
Trade Marks |
800 |
|
||||
Expense |
800 |
10,720 |
Unrecorded Assets |
200 |
10,100 |
||||
|
|
Krishna’s Capital A/c: |
|
||||||
|
|
Machinery |
14,400 |
|
|||||
|
|
Stock in Trade |
3,600 |
18,000 |
|||||
|
|
Loss transferred to: |
|
||||||
|
|
Krishna’s Capital A/c |
656 |
|
|||||
|
|
Arjun’s Capital A/c |
164 |
820 |
|||||
|
|
|
|
||||||
|
39,320 |
|
39,320 |
||||||
|
|
|
|
||||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Krishna |
Arjun |
Particulars |
Krishna |
Arjun |
||
Advertisement Suspense A/c |
800 |
200 |
Balance b/d |
16,000 |
6,000 |
||
Realisation A/c (Assets ) |
18,000 |
– |
|
|
|
||
Realisation A/c (Loss) |
656 |
164 |
Bank A/c |
3,456 |
– |
||
Bank A/c |
– |
5,636 |
|
|
|
||
|
19,456 |
6,000 |
|
19,456 |
6,000 |
||
|
|
|
|
|
|
||
Bank Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
2,800 |
Realisation A/c |
10,720 |
||
Realisation A/c |
10,100 |
Arjun’s Capital A/c |
5,636 |
||
Krishna’s Capital A/c |
3,456 |
|
|
||
|
|
|
|
||
|
16,356 |
|
16,356 |
||
|
|
|
|
Answer:
Realisation Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Plant and Machinery |
80,000 |
Sundry Creditors |
1,20,000 |
|
Furniture and Fixtures |
45,000 |
Cloudâs Capital A/c (Plant) |
45,000 |
|
Motor Car |
25,000 |
Bank A/c (Machinery) |
50,000 |
|
Stock-in-Trade |
30,000 |
Bank A/c (Furniture and Fixtures) |
40,000 |
|
Sundry Debtors |
71,000 |
Stormâs Capital A/c (Motor Car) |
30,000 |
|
Bank A/c (Creditors) |
1,00,300 |
Bank A/c (Debtors) |
62,820 |
|
Bank A/c (Expenses) |
5,000 |
Rainâs Capital A/c (Stock) |
5,200 |
|
Profit on Realisation transferred to: |
|
Bank A/c (Stock) |
30,000 |
|
Cloud |
13,360 |
|
|
|
Storm |
8,016 |
|
|
|
Rain |
5,344 |
26,720 |
|
|
|
3,83,020 |
|
3,83,020 |
|
|
|
|
|
Partnersâ Capital Account |
|||||||
Dr. |
Cr. |
||||||
Particulars |
Cloud |
Storm |
Rain |
Particulars |
Cloud |
Storm |
Rain |
Current A/c |
â |
â |
3,000 |
Balance b/d |
60,000 |
40,000 |
30,000 |
Realisation A/c (Plant) |
45,000 |
â |
â |
Current A/c |
8,000 |
10,000 |
â |
Realisation A/c (Motor Car) |
â |
30,000 |
â |
Realisation A/c (Profit) |
13,360 |
8,016 |
5,344 |
Realisation A/c (Stock) |
â |
â |
5,200 |
|
|
|
|
Bank A/c |
36,360 |
28,016 |
27,144 |
|
|
|
|
|
81,360 |
58,016 |
35,344 |
|
81,360 |
58,016 |
35,344 |
|
|
|
|
|
|
|
|
Cash at Bank A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Balance b/d |
14,000 |
Realisation A/c (Creditors) |
1,00,300 |
Realisation A/c (Machinery) |
50,000 |
Realisation A/c (Expenses) |
5,000 |
Realisation A/c (Furniture and Fixtures) |
40,000 |
Cloudâs Capital A/c |
36,360 |
Realisation A/c (Debtors) |
62,820 |
Stormâs Capital A/c |
28,016 |
Realisation A/c (Stock) |
30,000 |
Rainâs Capital A/c |
27,144 |
|
1,96,820 |
|
1,96,820 |
|
|
|
|
Page No 6.70:
Question 35:
Realisation Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Plant and Machinery |
80,000 |
Sundry Creditors |
1,20,000 |
|
Furniture and Fixtures |
45,000 |
Cloudâs Capital A/c (Plant) |
45,000 |
|
Motor Car |
25,000 |
Bank A/c (Machinery) |
50,000 |
|
Stock-in-Trade |
30,000 |
Bank A/c (Furniture and Fixtures) |
40,000 |
|
Sundry Debtors |
71,000 |
Stormâs Capital A/c (Motor Car) |
30,000 |
|
Bank A/c (Creditors) |
1,00,300 |
Bank A/c (Debtors) |
62,820 |
|
Bank A/c (Expenses) |
5,000 |
Rainâs Capital A/c (Stock) |
5,200 |
|
Profit on Realisation transferred to: |
|
Bank A/c (Stock) |
30,000 |
|
Cloud |
13,360 |
|
|
|
Storm |
8,016 |
|
|
|
Rain |
5,344 |
26,720 |
|
|
|
3,83,020 |
|
3,83,020 |
|
|
|
|
|
Partnersâ Capital Account |
|||||||
Dr. |
Cr. |
||||||
Particulars |
Cloud |
Storm |
Rain |
Particulars |
Cloud |
Storm |
Rain |
Current A/c |
â |
â |
3,000 |
Balance b/d |
60,000 |
40,000 |
30,000 |
Realisation A/c (Plant) |
45,000 |
â |
â |
Current A/c |
8,000 |
10,000 |
â |
Realisation A/c (Motor Car) |
â |
30,000 |
â |
Realisation A/c (Profit) |
13,360 |
8,016 |
5,344 |
Realisation A/c (Stock) |
â |
â |
5,200 |
|
|
|
|
Bank A/c |
36,360 |
28,016 |
27,144 |
|
|
|
|
|
81,360 |
58,016 |
35,344 |
|
81,360 |
58,016 |
35,344 |
|
|
|
|
|
|
|
|
Cash at Bank A/c |
|||
Dr. |
Cr. |
||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
Balance b/d |
14,000 |
Realisation A/c (Creditors) |
1,00,300 |
Realisation A/c (Machinery) |
50,000 |
Realisation A/c (Expenses) |
5,000 |
Realisation A/c (Furniture and Fixtures) |
40,000 |
Cloudâs Capital A/c |
36,360 |
Realisation A/c (Debtors) |
62,820 |
Stormâs Capital A/c |
28,016 |
Realisation A/c (Stock) |
30,000 |
Rainâs Capital A/c |
27,144 |
|
1,96,820 |
|
1,96,820 |
|
|
|
|
Answer:
Realisation Account |
||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN) |
1,20,000 |
Creditors |
30,000 |
|||
Cash A/c |
30,000 |
Cash A/c |
1,00,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
X’s Capital A/c |
10,000 |
|
||
|
|
Y’s Capital A/c |
10,000 |
20,000 |
||
|
1,50,000 |
|
1,50,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
X |
Y |
Particulars |
X |
Y |
||
Realisation A/c (Loss) |
10,000 |
10,000 |
Balance b/d |
50,000 |
40,000 |
||
Cash A/c |
40,000 |
30,000 |
|
|
|
||
|
|
|
|
|
|
||
|
50,000 |
40,000 |
|
50,000 |
40,000 |
||
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
1,00,000 |
Realisation A/c |
30,000 |
||
|
|
A’s Capital A/c |
40,000 |
||
|
|
B’s Capital A/c |
30,000 |
||
|
|
|
|
||
|
1,00,000 |
|
1,00,000 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/c |
|
Sundry Assets |
1,20,000 |
|
X |
50,000 |
|
(Balancing Figure) |
|
Y |
40,000 |
90,000 |
|
|
Creditors |
30,000 |
|
|
|
|
|
|
|
|
|
1,20,000 |
|
1,20,000 |
|
|
|
|
|
Page No 6.70:
Question 36:
Realisation Account |
||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN) |
1,20,000 |
Creditors |
30,000 |
|||
Cash A/c |
30,000 |
Cash A/c |
1,00,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
X’s Capital A/c |
10,000 |
|
||
|
|
Y’s Capital A/c |
10,000 |
20,000 |
||
|
1,50,000 |
|
1,50,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
X |
Y |
Particulars |
X |
Y |
||
Realisation A/c (Loss) |
10,000 |
10,000 |
Balance b/d |
50,000 |
40,000 |
||
Cash A/c |
40,000 |
30,000 |
|
|
|
||
|
|
|
|
|
|
||
|
50,000 |
40,000 |
|
50,000 |
40,000 |
||
|
|
|
|
|
|
||
Cash Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
1,00,000 |
Realisation A/c |
30,000 |
||
|
|
A’s Capital A/c |
40,000 |
||
|
|
B’s Capital A/c |
30,000 |
||
|
|
|
|
||
|
1,00,000 |
|
1,00,000 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/c |
|
Sundry Assets |
1,20,000 |
|
X |
50,000 |
|
(Balancing Figure) |
|
Y |
40,000 |
90,000 |
|
|
Creditors |
30,000 |
|
|
|
|
|
|
|
|
|
1,20,000 |
|
1,20,000 |
|
|
|
|
|
Answer:
Realisation Account |
||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN) |
65,000 |
Creditors |
20,000 |
|||
Cash A/c (Creditors) |
20,000 |
Cash A/c (Assets realised) |
50,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
A’s Capital A/c |
7,500 |
|
||
|
|
B’s Capital A/c |
4,500 |
|
||
|
|
C’s Capital A/c |
3,000 |
15,000 |
||
|
85,000 |
|
85,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Balance b/d |
– |
– |
5,000 |
Balance b/d |
30,000 |
20,000 |
– |
||
Realisation A/c (Loss) |
7,500 |
4,500 |
3,000 |
Cash A/c |
– |
– |
8,000 |
||
Cash A/c |
22,500 |
15,500 |
– |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
30,000 |
20,000 |
8,000 |
|
30,000 |
20,000 |
8,000 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c (Assets) |
50,000 |
Realisation A/c (Creditors) |
20,000 |
||
C’s Capital A/c |
8,000 |
A’s Capital A/c |
22,500 |
||
|
|
B’s Capital A/c |
15,500 |
||
|
|
|
|
||
|
58,000 |
|
58,000 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/c |
|
C’s Capital A/c |
5,000 |
|
A |
30,000 |
|
Sundry Assets |
65,000 |
B |
20,000 |
50,000 |
(Balancing Figure) |
|
Other liabilities |
20,000 |
|
|
|
|
70,000 |
|
70,000 |
|
|
|
|
|
Page No 6.70:
Question 37:
Realisation Account |
||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN) |
65,000 |
Creditors |
20,000 |
|||
Cash A/c (Creditors) |
20,000 |
Cash A/c (Assets realised) |
50,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
A’s Capital A/c |
7,500 |
|
||
|
|
B’s Capital A/c |
4,500 |
|
||
|
|
C’s Capital A/c |
3,000 |
15,000 |
||
|
85,000 |
|
85,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Balance b/d |
– |
– |
5,000 |
Balance b/d |
30,000 |
20,000 |
– |
||
Realisation A/c (Loss) |
7,500 |
4,500 |
3,000 |
Cash A/c |
– |
– |
8,000 |
||
Cash A/c |
22,500 |
15,500 |
– |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
30,000 |
20,000 |
8,000 |
|
30,000 |
20,000 |
8,000 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c (Assets) |
50,000 |
Realisation A/c (Creditors) |
20,000 |
||
C’s Capital A/c |
8,000 |
A’s Capital A/c |
22,500 |
||
|
|
B’s Capital A/c |
15,500 |
||
|
|
|
|
||
|
58,000 |
|
58,000 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/c |
|
C’s Capital A/c |
5,000 |
|
A |
30,000 |
|
Sundry Assets |
65,000 |
B |
20,000 |
50,000 |
(Balancing Figure) |
|
Other liabilities |
20,000 |
|
|
|
|
70,000 |
|
70,000 |
|
|
|
|
|
Answer:
Realisation Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Sundry Assets (WN) |
21,250 |
Other liabilities |
5,000 |
||
Cash A/c (Liabilities) |
5,000 |
Cash A/c (Assets Realised) |
24,000 |
||
Profit transferred to: |
|
|
|
||
A’s Capital A/c |
1,750 |
|
|
|
|
B’s Capital A/c |
1,000 |
2,750 |
|
|
|
|
|
|
|
||
|
29,000 |
|
29,000 |
||
|
|
|
|
||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Cash A/c |
8,750 |
5,000 |
Balance b/d |
7,000 |
4,000 |
||
|
|
|
Realisation A/c (Profit) |
1,750 |
1,000 |
||
|
8,750 |
5,000 |
|
8,750 |
5,000 |
||
|
|
|
|
|
|
||
Partners’ Loan Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Cash A/c |
4,500 |
750 |
Balance b/d |
4,500 |
750 |
||
|
|
|
|
|
|
||
|
4,500 |
750 |
|
4,500 |
750 |
||
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c (Assets) |
24,000 |
A’s Capital A/c |
8,750 |
||
|
|
B’s Capital A/c |
5,000 |
||
|
|
A’s Loan A/c |
4,500 |
||
|
|
B’s Loan A/c |
750 |
||
|
|
Realisation A/c |
5,000 |
||
|
|
|
|
||
|
24,000 |
|
24,000 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet as on May 30, 2013 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
21,250 |
|
A |
7,000 |
|
(Balancing Figure) |
|
B |
4,000 |
11,000 |
|
|
A’s Loan |
4,500 |
|
|
|
B’s Loan |
750 |
|
|
|
Other Liabilities |
5,000 |
|
|
|
|
|
|
|
|
|
21,250 |
|
21,250 |
|
|
|
|
|
Page No 6.70:
Question 38:
Realisation Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Sundry Assets (WN) |
21,250 |
Other liabilities |
5,000 |
||
Cash A/c (Liabilities) |
5,000 |
Cash A/c (Assets Realised) |
24,000 |
||
Profit transferred to: |
|
|
|
||
A’s Capital A/c |
1,750 |
|
|
|
|
B’s Capital A/c |
1,000 |
2,750 |
|
|
|
|
|
|
|
||
|
29,000 |
|
29,000 |
||
|
|
|
|
||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Cash A/c |
8,750 |
5,000 |
Balance b/d |
7,000 |
4,000 |
||
|
|
|
Realisation A/c (Profit) |
1,750 |
1,000 |
||
|
8,750 |
5,000 |
|
8,750 |
5,000 |
||
|
|
|
|
|
|
||
Partners’ Loan Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Cash A/c |
4,500 |
750 |
Balance b/d |
4,500 |
750 |
||
|
|
|
|
|
|
||
|
4,500 |
750 |
|
4,500 |
750 |
||
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c (Assets) |
24,000 |
A’s Capital A/c |
8,750 |
||
|
|
B’s Capital A/c |
5,000 |
||
|
|
A’s Loan A/c |
4,500 |
||
|
|
B’s Loan A/c |
750 |
||
|
|
Realisation A/c |
5,000 |
||
|
|
|
|
||
|
24,000 |
|
24,000 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet as on May 30, 2013 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
21,250 |
|
A |
7,000 |
|
(Balancing Figure) |
|
B |
4,000 |
11,000 |
|
|
A’s Loan |
4,500 |
|
|
|
B’s Loan |
750 |
|
|
|
Other Liabilities |
5,000 |
|
|
|
|
|
|
|
|
|
21,250 |
|
21,250 |
|
|
|
|
|
Answer:
Realisation Account | ||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Sundry Assets (WN) |
69,250 |
Sundry Creditors |
20,000 |
|||||
Bank A/c: |
|
Bank A/c: |
|
|||||
S. Creditors |
20,000 |
|
Stock |
20,000 |
|
|||
Expenses |
350 |
20,350 |
Debtors |
25,000 |
|
|||
Profit transferred to: |
|
Other Assets |
20,000 |
65,000 |
||||
A’s Capital A/c |
1,450 |
|
B’s Capital A/c (Machinery) |
7,500 |
||||
B’s Capital A/c |
1,450 |
2,900 |
|
|
||||
|
92,500 |
|
92,500 |
|||||
|
|
|
|
|||||
A’s Loan Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Bank A/c |
10,000 |
Balance b/d |
10,000 |
||
|
|
|
|
||
|
10,000 |
|
10,000 |
||
|
|
|
|
||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Realisation A/c (Machinery) |
– |
7,500 |
Balance b/d |
25,000 |
15,000 |
||
Bank A/c |
26,450 |
8,950 |
Realisation A/c (Profit) |
1,450 |
1,450 |
||
|
|
|
|
|
|
||
|
26,450 |
16,450 |
|
26,450 |
16,450 |
||
|
|
|
|
|
|
||
Bank Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
750 |
A’s Loan A/c |
10,000 |
||
Realisation A/c |
65,000 |
A’s Capital A/c |
26,450 |
||
|
|
B’s Capital A/c |
8,950 |
||
|
|
Realisation A/c |
20,350 |
||
|
|
|
|
||
|
65,750 |
|
65,750 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet as on March 31, 2014 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Cash in Hand and at Bank |
750 |
|
A |
25,000 |
|
|
|
B |
15,000 |
40,000 |
Sundry Assets |
|
Sundry Creditors |
20,000 |
(other than Cash and Bank) |
69,250 |
|
A’s Loan |
10,000 |
|
|
|
|
|
|
|
|
|
70,000 |
|
70,000 |
|
|
|
|
|
Page No 6.71:
Question 39:
Realisation Account | ||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Sundry Assets (WN) |
69,250 |
Sundry Creditors |
20,000 |
|||||
Bank A/c: |
|
Bank A/c: |
|
|||||
S. Creditors |
20,000 |
|
Stock |
20,000 |
|
|||
Expenses |
350 |
20,350 |
Debtors |
25,000 |
|
|||
Profit transferred to: |
|
Other Assets |
20,000 |
65,000 |
||||
A’s Capital A/c |
1,450 |
|
B’s Capital A/c (Machinery) |
7,500 |
||||
B’s Capital A/c |
1,450 |
2,900 |
|
|
||||
|
92,500 |
|
92,500 |
|||||
|
|
|
|
|||||
A’s Loan Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Bank A/c |
10,000 |
Balance b/d |
10,000 |
||
|
|
|
|
||
|
10,000 |
|
10,000 |
||
|
|
|
|
||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Realisation A/c (Machinery) |
– |
7,500 |
Balance b/d |
25,000 |
15,000 |
||
Bank A/c |
26,450 |
8,950 |
Realisation A/c (Profit) |
1,450 |
1,450 |
||
|
|
|
|
|
|
||
|
26,450 |
16,450 |
|
26,450 |
16,450 |
||
|
|
|
|
|
|
||
Bank Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
750 |
A’s Loan A/c |
10,000 |
||
Realisation A/c |
65,000 |
A’s Capital A/c |
26,450 |
||
|
|
B’s Capital A/c |
8,950 |
||
|
|
Realisation A/c |
20,350 |
||
|
|
|
|
||
|
65,750 |
|
65,750 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet as on March 31, 2014 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Cash in Hand and at Bank |
750 |
|
A |
25,000 |
|
|
|
B |
15,000 |
40,000 |
Sundry Assets |
|
Sundry Creditors |
20,000 |
(other than Cash and Bank) |
69,250 |
|
A’s Loan |
10,000 |
|
|
|
|
|
|
|
|
|
70,000 |
|
70,000 |
|
|
|
|
|
Answer:
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Sundry Assets (WN) |
1,20,000 |
Creditors |
40,000 |
||||
Cash A/c: |
|
Cash A/c (Assets Realised) |
1,10,000 |
||||
Creditors |
40,000 |
|
Loss transferred to: |
|
|||
Expenses |
1,000 |
41,000 |
Ashok’s Capital A/c |
8,250 |
|
||
|
|
Kishore’s Capital A/c |
2,750 |
11,000 |
|||
|
|
|
|
||||
|
1,61,000 |
|
1,61,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Ashok |
Kishore |
Particulars |
Ashok |
Kishore |
||
Balance b/d |
– |
10,000 |
Balance b/d |
1,00,000 |
– |
||
Realisation A/c (Loss) |
8,250 |
2,750 |
Cash A/c |
– |
14,750 |
||
Profit and Loss A/c |
6,000 |
2,000 |
|
|
|
||
Cash A/c |
85,750 |
|
|
|
|
||
|
|
|
|
|
|
||
|
1,00,000 |
14,750 |
|
1,00,000 |
14,750 |
||
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
2,000 |
Realisation A/c |
41,000 |
||
Realisation A/c |
1,10,000 |
Ashok’s Capital A/c |
85,750 |
||
Kishore’s Capital A/c |
14,750 |
|
|
||
|
|
|
|
||
|
1,26,750 |
|
1,26,750 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet |
|||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
Creditors |
40,000 |
Cash |
2,000 |
Ashok’s Capital |
1,00,000 |
Kishore’s Capital |
10,000 |
|
|
Profit and Loss A/c |
8,000 |
|
|
Sundry Assets (Balancing figure) |
1,20,000 |
|
|
|
|
|
1,40,000 |
|
1,40,000 |
|
|
|
|
Page No 6.71:
Question 40:
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Sundry Assets (WN) |
1,20,000 |
Creditors |
40,000 |
||||
Cash A/c: |
|
Cash A/c (Assets Realised) |
1,10,000 |
||||
Creditors |
40,000 |
|
Loss transferred to: |
|
|||
Expenses |
1,000 |
41,000 |
Ashok’s Capital A/c |
8,250 |
|
||
|
|
Kishore’s Capital A/c |
2,750 |
11,000 |
|||
|
|
|
|
||||
|
1,61,000 |
|
1,61,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Ashok |
Kishore |
Particulars |
Ashok |
Kishore |
||
Balance b/d |
– |
10,000 |
Balance b/d |
1,00,000 |
– |
||
Realisation A/c (Loss) |
8,250 |
2,750 |
Cash A/c |
– |
14,750 |
||
Profit and Loss A/c |
6,000 |
2,000 |
|
|
|
||
Cash A/c |
85,750 |
|
|
|
|
||
|
|
|
|
|
|
||
|
1,00,000 |
14,750 |
|
1,00,000 |
14,750 |
||
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
2,000 |
Realisation A/c |
41,000 |
||
Realisation A/c |
1,10,000 |
Ashok’s Capital A/c |
85,750 |
||
Kishore’s Capital A/c |
14,750 |
|
|
||
|
|
|
|
||
|
1,26,750 |
|
1,26,750 |
||
|
|
|
|
Working Note:
Memorandum Balance Sheet |
|||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
Creditors |
40,000 |
Cash |
2,000 |
Ashok’s Capital |
1,00,000 |
Kishore’s Capital |
10,000 |
|
|
Profit and Loss A/c |
8,000 |
|
|
Sundry Assets (Balancing figure) |
1,20,000 |
|
|
|
|
|
1,40,000 |
|
1,40,000 |
|
|
|
|
Answer:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN 2) |
18,000 |
Cash A/c (Asset realised ) |
6,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
X’s Capital A/c |
4,000 |
|
||
|
|
Y’s Capital A/c |
4,000 |
|
||
|
|
Z’s Capital A/c |
4,000 |
12,000 |
||
|
|
|
|
|||
|
18,000 |
|
18,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Realisation A/c (Loss) |
4,000 |
4,000 |
4,000 |
Balance b/d |
9,000 |
6,000 |
3,000 |
||
Cash A/c |
5,000 |
2,000 |
– |
Cash A/c |
– |
– |
1,000 |
||
|
|
|
|
|
|
|
|
||
|
9,000 |
6,000 |
4,000 |
|
9,000 |
6,000 |
4,000 |
||
|
|
|
|
|
|
|
|
Working Notes:
WN 1
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
6,000 |
X’s Capital A/c |
5,000 |
||
Z’s Capital A/c |
1,000 |
Y’s Capital A/c |
2,000 |
||
|
|
|
|
||
|
7,000 |
|
7,000 |
||
|
|
|
|
WN 2
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
18,000 |
|
X’s Capital A/c |
9,000 |
|
(Balancing figure) |
|
Y’s Capital A/c |
6,000 |
|
|
|
Z’s Capital A/c |
3,000 |
18,000 |
|
|
|
18,000 |
|
18,000 |
|
|
|
|
|
Page No 6.71:
Question 41:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN 2) |
18,000 |
Cash A/c (Asset realised ) |
6,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
X’s Capital A/c |
4,000 |
|
||
|
|
Y’s Capital A/c |
4,000 |
|
||
|
|
Z’s Capital A/c |
4,000 |
12,000 |
||
|
|
|
|
|||
|
18,000 |
|
18,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Realisation A/c (Loss) |
4,000 |
4,000 |
4,000 |
Balance b/d |
9,000 |
6,000 |
3,000 |
||
Cash A/c |
5,000 |
2,000 |
– |
Cash A/c |
– |
– |
1,000 |
||
|
|
|
|
|
|
|
|
||
|
9,000 |
6,000 |
4,000 |
|
9,000 |
6,000 |
4,000 |
||
|
|
|
|
|
|
|
|
Working Notes:
WN 1
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
6,000 |
X’s Capital A/c |
5,000 |
||
Z’s Capital A/c |
1,000 |
Y’s Capital A/c |
2,000 |
||
|
|
|
|
||
|
7,000 |
|
7,000 |
||
|
|
|
|
WN 2
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
18,000 |
|
X’s Capital A/c |
9,000 |
|
(Balancing figure) |
|
Y’s Capital A/c |
6,000 |
|
|
|
Z’s Capital A/c |
3,000 |
18,000 |
|
|
|
18,000 |
|
18,000 |
|
|
|
|
|
Answer:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN 2) |
1,80,000 |
Sundry Creditors |
24,000 |
|||
Cash A/c (Creditors) |
23,500 |
Cash A/c (Assets) |
3,00,000 |
|||
Profit transferred to: |
|
|
|
|||
A’s Capital A/c |
48,200 |
|
|
|
||
B’s Capital A/c |
36,150 |
|
|
|
||
C’s Capital A/c |
36,150 |
1,20,500 |
|
|
||
|
|
|
|
|||
|
3,24,000 |
|
3,24,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
|
|
|
|
Balance b/d |
70,000 |
55,000 |
35,000 |
||
Cash A/c |
1,18,200 |
91,150 |
71,150 |
Realisation A/c |
48,200 |
36,150 |
36,150 |
||
|
|
|
|
|
|
|
|
||
|
1,18,200 |
91,150 |
71,150 |
|
1,18,200 |
91,150 |
71,150 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
4,000 |
Realisation A/c |
23,500 |
||
Realisation A/c |
3,00,000 |
A’s Capital A/c |
1,18,200 |
||
|
|
B’s Capital A/c |
91,150 |
||
|
|
C’s Capital A/c |
71,150 |
||
|
|
|
|
||
|
3,04,000 |
|
3,04,000 |
||
|
|
|
|
Working Notes:
WN 1 Calculation of Partners’ Capital as on March 31, 2012
Particulars |
X |
Y |
Z |
Capital as on April 01, 2011 |
1,00,000 |
80,000 |
60,000 |
Less:Drawings |
(10,000) |
(10,000) |
(10,000) |
Less: Share of Loss (4 : 3 : 3) |
(20,000) |
(15,000) |
(15,000) |
Capital as on April 01, 2012 |
70,000 |
55,000 |
35,000 |
|
|
|
|
WN 2
Memorandum Balance Sheet as on March 31, 2012 |
|||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
Capital A/cs: |
|
Cash in Hand |
4,000 |
A |
70,000 |
Sundry Assets |
1,80,000 |
B |
55,000 |
(Balancing figure) |
|
C |
35,000 |
|
|
Creditors |
24,000 |
|
|
|
|
|
|
|
1,84,000 |
|
1,84,000 |
|
|
|
|
Page No 6.71:
Question 42:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN 2) |
1,80,000 |
Sundry Creditors |
24,000 |
|||
Cash A/c (Creditors) |
23,500 |
Cash A/c (Assets) |
3,00,000 |
|||
Profit transferred to: |
|
|
|
|||
A’s Capital A/c |
48,200 |
|
|
|
||
B’s Capital A/c |
36,150 |
|
|
|
||
C’s Capital A/c |
36,150 |
1,20,500 |
|
|
||
|
|
|
|
|||
|
3,24,000 |
|
3,24,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
|
|
|
|
Balance b/d |
70,000 |
55,000 |
35,000 |
||
Cash A/c |
1,18,200 |
91,150 |
71,150 |
Realisation A/c |
48,200 |
36,150 |
36,150 |
||
|
|
|
|
|
|
|
|
||
|
1,18,200 |
91,150 |
71,150 |
|
1,18,200 |
91,150 |
71,150 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
4,000 |
Realisation A/c |
23,500 |
||
Realisation A/c |
3,00,000 |
A’s Capital A/c |
1,18,200 |
||
|
|
B’s Capital A/c |
91,150 |
||
|
|
C’s Capital A/c |
71,150 |
||
|
|
|
|
||
|
3,04,000 |
|
3,04,000 |
||
|
|
|
|
Working Notes:
WN 1 Calculation of Partners’ Capital as on March 31, 2012
Particulars |
X |
Y |
Z |
Capital as on April 01, 2011 |
1,00,000 |
80,000 |
60,000 |
Less:Drawings |
(10,000) |
(10,000) |
(10,000) |
Less: Share of Loss (4 : 3 : 3) |
(20,000) |
(15,000) |
(15,000) |
Capital as on April 01, 2012 |
70,000 |
55,000 |
35,000 |
|
|
|
|
WN 2
Memorandum Balance Sheet as on March 31, 2012 |
|||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
Capital A/cs: |
|
Cash in Hand |
4,000 |
A |
70,000 |
Sundry Assets |
1,80,000 |
B |
55,000 |
(Balancing figure) |
|
C |
35,000 |
|
|
Creditors |
24,000 |
|
|
|
|
|
|
|
1,84,000 |
|
1,84,000 |
|
|
|
|
Answer:
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Sundry Assets |
83,000 |
Sundry Liabilities (WN ) |
28,000 |
||||
|
|
Cash A/c (Assets realised) |
80,000 |
||||
Cash A/c: |
|
Loss transferred to: |
|
||||
Sundry Liabilities |
28,000 |
|
A’s Capital A/c |
5,500 |
|
||
Contingent Liabilities |
8,000 |
36,000 |
B’s Capital A/c |
2,750 |
|
||
|
|
C’s Capital A/c |
2,750 |
11,000 |
|||
|
1,19,000 |
|
1,19,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Realisation A/c (Loss) |
5,500 |
2,750 |
2,750 |
Balance b/d |
20,000 |
20,000 |
20,000 |
||
Bank A/c |
14,500 |
17,250 |
17,250 |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
20,000 |
20,000 |
20,000 |
|
20,000 |
20,000 |
20,000 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
5,000 |
Realisation A/c |
36,000 |
||
Realisation A/c |
80,000 |
A’s Capital A/c |
14,500 |
||
|
|
B’s Capital A/c |
17,250 |
||
|
|
C’s Capital A/c |
17,250 |
||
|
|
|
|
||
|
85,000 |
|
85,000 |
||
|
|
|
|
Working Notes:
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Cash in Hand |
5,000 |
|
A |
20,000 |
|
Sundry Assets |
83,000 |
B |
20,000 |
|
|
|
C |
20,000 |
60,000 |
|
|
Sundry Liabilities |
28,000 |
|
|
|
(Balancing figure) |
|
|
|
|
|
88,000 |
|
88,000 |
|
|
|
|
|
Page No 6.71:
Question 43:
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Sundry Assets |
83,000 |
Sundry Liabilities (WN ) |
28,000 |
||||
|
|
Cash A/c (Assets realised) |
80,000 |
||||
Cash A/c: |
|
Loss transferred to: |
|
||||
Sundry Liabilities |
28,000 |
|
A’s Capital A/c |
5,500 |
|
||
Contingent Liabilities |
8,000 |
36,000 |
B’s Capital A/c |
2,750 |
|
||
|
|
C’s Capital A/c |
2,750 |
11,000 |
|||
|
1,19,000 |
|
1,19,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Realisation A/c (Loss) |
5,500 |
2,750 |
2,750 |
Balance b/d |
20,000 |
20,000 |
20,000 |
||
Bank A/c |
14,500 |
17,250 |
17,250 |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
20,000 |
20,000 |
20,000 |
|
20,000 |
20,000 |
20,000 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
5,000 |
Realisation A/c |
36,000 |
||
Realisation A/c |
80,000 |
A’s Capital A/c |
14,500 |
||
|
|
B’s Capital A/c |
17,250 |
||
|
|
C’s Capital A/c |
17,250 |
||
|
|
|
|
||
|
85,000 |
|
85,000 |
||
|
|
|
|
Working Notes:
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Cash in Hand |
5,000 |
|
A |
20,000 |
|
Sundry Assets |
83,000 |
B |
20,000 |
|
|
|
C |
20,000 |
60,000 |
|
|
Sundry Liabilities |
28,000 |
|
|
|
(Balancing figure) |
|
|
|
|
|
88,000 |
|
88,000 |
|
|
|
|
|
Answer:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN) |
17,000 |
A’s Capital (Stock) |
5,000 |
|||
|
|
B’s Capital (Furniture) |
2,000 |
|||
|
|
C’s Capital (Debtors) |
3,000 |
|||
|
|
Bank A/c (Assets realised) |
1,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
A’s Capital A/c |
3,000 |
|
||
|
|
B’s Capital A/c |
2,000 |
|
||
|
|
C’s Capital A/c |
1,000 |
6,000 |
||
|
17,000 |
|
17,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Realisation A/c |
5,000 |
2,000 |
3,000 |
Balance b/d |
8,100 |
5,300 |
3,600 |
||
Realisation A/c (Loss) |
3,000 |
2,000 |
1,000 |
Cash A/c |
– |
– |
400 |
||
Cash A/c |
100 |
1,300 |
– |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
8,100 |
5,300 |
4,000 |
|
8,100 |
5,300 |
4,000 |
||
|
|
|
|
|
|
|
|
||
Bank Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
1,000 |
A’s Capital A/c |
100 |
||
C’s Capital A/c |
400 |
B’s Capital A/c |
1,300 |
||
|
|
|
|
||
|
1,400 |
|
1,400 |
||
|
|
|
|
Working Notes:
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
|
|
|
A |
10,000 – 1,900 |
8,100 |
Sundry Assets |
17,000 |
B |
7,000 – 1,700 |
5,300 |
(Balancing figure) |
|
C |
5000 – 1400 |
3,600 |
|
|
|
|
|
|
|
|
17,000 |
|
17,000 |
|
|
|
|
|
Page No 6.71:
Question 44:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN) |
17,000 |
A’s Capital (Stock) |
5,000 |
|||
|
|
B’s Capital (Furniture) |
2,000 |
|||
|
|
C’s Capital (Debtors) |
3,000 |
|||
|
|
Bank A/c (Assets realised) |
1,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
A’s Capital A/c |
3,000 |
|
||
|
|
B’s Capital A/c |
2,000 |
|
||
|
|
C’s Capital A/c |
1,000 |
6,000 |
||
|
17,000 |
|
17,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
||
Realisation A/c |
5,000 |
2,000 |
3,000 |
Balance b/d |
8,100 |
5,300 |
3,600 |
||
Realisation A/c (Loss) |
3,000 |
2,000 |
1,000 |
Cash A/c |
– |
– |
400 |
||
Cash A/c |
100 |
1,300 |
– |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
8,100 |
5,300 |
4,000 |
|
8,100 |
5,300 |
4,000 |
||
|
|
|
|
|
|
|
|
||
Bank Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
1,000 |
A’s Capital A/c |
100 |
||
C’s Capital A/c |
400 |
B’s Capital A/c |
1,300 |
||
|
|
|
|
||
|
1,400 |
|
1,400 |
||
|
|
|
|
Working Notes:
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
|
|
|
A |
10,000 – 1,900 |
8,100 |
Sundry Assets |
17,000 |
B |
7,000 – 1,700 |
5,300 |
(Balancing figure) |
|
C |
5000 – 1400 |
3,600 |
|
|
|
|
|
|
|
|
17,000 |
|
17,000 |
|
|
|
|
|
Answer:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN) |
4,80,000 |
Trade Creditors |
2,00,000 |
|||
B’s Loan |
20,000 |
|
|
|||
|
|
Cash (Assets realised) |
4,50,000 |
|||
Cash A/c (Creditors) |
2,00,000 |
B’s Capital A/c (B’s Loan) |
20,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
A’s Capital A/c |
20,000 |
|
||
|
|
B’s Capital A/c |
10,000 |
30,000 |
||
|
|
|
|
|||
|
7,00,000 |
|
7,00,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Realisation A/c |
– |
20,000 |
Balance b/d |
1,70,000 |
30,000 |
||
Realisation A/c (Loss) |
20,000 |
10,000 |
|
|
|
||
Cash A/c |
1,50,000 |
|
|
|
|
||
|
|
|
|
|
|
||
|
1,70,000 |
30,000 |
|
1,70,000 |
30,000 |
||
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c (Assets) |
4,50,000 |
Realisation A/c (Creditors) |
2,00,000 |
||
|
|
A’s Capital A/c |
1,50,000 |
||
|
|
A’s Loan A/c |
1,00,000 |
||
|
|
|
|
||
|
4,50,000 |
|
4,50,000 |
||
|
|
|
|
Working Notes:
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
B’s Loan |
20,000 |
|
A |
1,70,000 |
|
|
|
B |
30,000 |
2,00,000 |
Sundry Assets |
4,80,000 |
A’s Loan |
1,00,000 |
(Balancing figure) |
|
|
Trade Creditors |
2,00,000 |
|
|
|
|
|
|
|
|
|
5,00,000 |
|
5,00,000 |
|
|
|
|
|
Page No 6.72:
Question 45:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN) |
4,80,000 |
Trade Creditors |
2,00,000 |
|||
B’s Loan |
20,000 |
|
|
|||
|
|
Cash (Assets realised) |
4,50,000 |
|||
Cash A/c (Creditors) |
2,00,000 |
B’s Capital A/c (B’s Loan) |
20,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
A’s Capital A/c |
20,000 |
|
||
|
|
B’s Capital A/c |
10,000 |
30,000 |
||
|
|
|
|
|||
|
7,00,000 |
|
7,00,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
A |
B |
Particulars |
A |
B |
||
Realisation A/c |
– |
20,000 |
Balance b/d |
1,70,000 |
30,000 |
||
Realisation A/c (Loss) |
20,000 |
10,000 |
|
|
|
||
Cash A/c |
1,50,000 |
|
|
|
|
||
|
|
|
|
|
|
||
|
1,70,000 |
30,000 |
|
1,70,000 |
30,000 |
||
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c (Assets) |
4,50,000 |
Realisation A/c (Creditors) |
2,00,000 |
||
|
|
A’s Capital A/c |
1,50,000 |
||
|
|
A’s Loan A/c |
1,00,000 |
||
|
|
|
|
||
|
4,50,000 |
|
4,50,000 |
||
|
|
|
|
Working Notes:
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
B’s Loan |
20,000 |
|
A |
1,70,000 |
|
|
|
B |
30,000 |
2,00,000 |
Sundry Assets |
4,80,000 |
A’s Loan |
1,00,000 |
(Balancing figure) |
|
|
Trade Creditors |
2,00,000 |
|
|
|
|
|
|
|
|
|
5,00,000 |
|
5,00,000 |
|
|
|
|
|
Answer:
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Sundry Assets |
94,000 |
Creditors |
24,000 |
||||
X’s Capital A/c (Creditors) |
14,000 |
Cash (Assets Realised) |
88,500 |
||||
Cash A/c: |
|
Loss transferred to: |
|
||||
Creditors |
7,500 |
|
X’s Capital A/c |
2,100 |
|
||
Expenses |
500 |
8,000 |
Y’s Capital A/c |
1,400 |
3,500 |
||
|
|
|
|
||||
|
1,16,000 |
|
1,16,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
X |
Y |
Particulars |
X |
Y |
||
Realisation A/c (Loss) |
2,100 |
1,400 |
Balance b/d |
40,000 |
30,000 |
||
Cash A/c |
51,900 |
28,600 |
Realisation A/c (Creditors) |
14,000 |
– |
||
|
|
|
|
|
|
||
|
54,000 |
30,000 |
|
54,000 |
30,000 |
||
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c (Assets) |
88,500 |
Realisation A/c |
8,000 |
||
|
|
X’s Capital A/c |
51,900 |
||
|
|
Y’s Capital A/c |
28,600 |
||
|
88,500 |
|
88,500 |
||
|
|
|
|
Working Notes:
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
94,000 |
|
X |
40,000 |
|
(Balancing figure) |
|
Y |
30,000 |
70,000 |
|
|
Creditors |
24,000 |
|
|
|
|
|
|
|
|
|
94,000 |
|
94,000 |
|
|
|
|
|
Page No 6.72:
Question 46:
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Sundry Assets |
94,000 |
Creditors |
24,000 |
||||
X’s Capital A/c (Creditors) |
14,000 |
Cash (Assets Realised) |
88,500 |
||||
Cash A/c: |
|
Loss transferred to: |
|
||||
Creditors |
7,500 |
|
X’s Capital A/c |
2,100 |
|
||
Expenses |
500 |
8,000 |
Y’s Capital A/c |
1,400 |
3,500 |
||
|
|
|
|
||||
|
1,16,000 |
|
1,16,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
X |
Y |
Particulars |
X |
Y |
||
Realisation A/c (Loss) |
2,100 |
1,400 |
Balance b/d |
40,000 |
30,000 |
||
Cash A/c |
51,900 |
28,600 |
Realisation A/c (Creditors) |
14,000 |
– |
||
|
|
|
|
|
|
||
|
54,000 |
30,000 |
|
54,000 |
30,000 |
||
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c (Assets) |
88,500 |
Realisation A/c |
8,000 |
||
|
|
X’s Capital A/c |
51,900 |
||
|
|
Y’s Capital A/c |
28,600 |
||
|
88,500 |
|
88,500 |
||
|
|
|
|
Working Notes:
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
94,000 |
|
X |
40,000 |
|
(Balancing figure) |
|
Y |
30,000 |
70,000 |
|
|
Creditors |
24,000 |
|
|
|
|
|
|
|
|
|
94,000 |
|
94,000 |
|
|
|
|
|
Answer:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN 1) |
1,26,000 |
Creditors |
18,000 |
|||
|
|
Cash A/c (Assets Realised) |
1,08,600 |
|||
Cash A/c: |
|
Loss transferred to: |
|
|||
Creditors |
18,000 |
|
P’s Capital A/c |
7,200 |
|
|
Expenses |
1,800 |
19,800 |
Q’s Capital A/c |
7,200 |
|
|
|
|
R’s Capital A/c |
4,800 |
19,200 |
||
|
|
|
|
|||
|
1,45,800 |
|
1,45,800 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
P |
Q |
R |
Particulars |
P |
Q |
R |
||
Drawings A/c |
8,000 |
7,000 |
5,000 |
Balance b/d |
30,000 |
30,000 |
20,000 |
||
Realisation A/c (Loss) |
7,200 |
7,200 |
4,800 |
Interest on Capital A/c |
1,500 |
1,500 |
1,000 |
||
Cash A/c |
32,800 |
33,800 |
22,200 |
P/L Appropriation A/c (WN 2) |
9,000 |
9,000 |
6,000 |
||
|
|
|
|
General Reserve |
7,500 |
7,500 |
5,000 |
||
|
48,000 |
48,000 |
32,000 |
|
48,000 |
48,000 |
32,000 |
||
|
|
|
|
|
|
|
|
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
1,08,600 |
Realisation A/c |
19,800 |
||
|
|
P’s Capital A/c |
32,800 |
||
|
|
Q’s Capital A/c |
33,800 |
||
|
|
R’s Capital A/c |
22,200 |
||
|
|
|
|
||
|
1,08,600 |
|
1,08,600 |
||
|
|
|
|
Working Note:
WN 1
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
1,26,000 |
|
P (80,000 × 3/8) |
30,000 |
|
(Balancing figure) |
|
Q (80,000 × 3/8) |
30,000 |
|
|
|
R (80,000 × 2/8) |
20,000 |
80,000 |
Drawings A/cs: |
|
General Reserve |
20,000 |
P |
8,000 |
|
Profit and Loss A/c |
28,000 |
Q |
7,000 |
|
Creditors |
18,000 |
R |
5,000 |
|
|
|
|
|
|
|
1,46,000 |
|
1,46,000 |
|
|
|
|
|
WN 2
Profit and Loss Appropriation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Interest on Capital A/cs: |
|
Profit and Loss A/c |
28,000 |
|||
P |
1,500 |
|
|
|
||
Q |
1,500 |
|
|
|
||
R |
1,000 |
4,000 |
|
|
||
Profit transferred to: |
|
|
|
|||
P’s Capital A/c |
9,000 |
|
|
|
||
Q’s Capital A/c |
9,000 |
|
|
|
||
R’s Capital A/c |
6,000 |
24,000 |
|
|
||
|
|
|
|
|||
|
28,000 |
|
28,000 |
|||
|
|
|
|
Page No 6.72:
Question 47:
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets (WN 1) |
1,26,000 |
Creditors |
18,000 |
|||
|
|
Cash A/c (Assets Realised) |
1,08,600 |
|||
Cash A/c: |
|
Loss transferred to: |
|
|||
Creditors |
18,000 |
|
P’s Capital A/c |
7,200 |
|
|
Expenses |
1,800 |
19,800 |
Q’s Capital A/c |
7,200 |
|
|
|
|
R’s Capital A/c |
4,800 |
19,200 |
||
|
|
|
|
|||
|
1,45,800 |
|
1,45,800 |
|||
|
|
|
|
|||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
P |
Q |
R |
Particulars |
P |
Q |
R |
||
Drawings A/c |
8,000 |
7,000 |
5,000 |
Balance b/d |
30,000 |
30,000 |
20,000 |
||
Realisation A/c (Loss) |
7,200 |
7,200 |
4,800 |
Interest on Capital A/c |
1,500 |
1,500 |
1,000 |
||
Cash A/c |
32,800 |
33,800 |
22,200 |
P/L Appropriation A/c (WN 2) |
9,000 |
9,000 |
6,000 |
||
|
|
|
|
General Reserve |
7,500 |
7,500 |
5,000 |
||
|
48,000 |
48,000 |
32,000 |
|
48,000 |
48,000 |
32,000 |
||
|
|
|
|
|
|
|
|
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
1,08,600 |
Realisation A/c |
19,800 |
||
|
|
P’s Capital A/c |
32,800 |
||
|
|
Q’s Capital A/c |
33,800 |
||
|
|
R’s Capital A/c |
22,200 |
||
|
|
|
|
||
|
1,08,600 |
|
1,08,600 |
||
|
|
|
|
Working Note:
WN 1
Memorandum Balance Sheet |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
1,26,000 |
|
P (80,000 × 3/8) |
30,000 |
|
(Balancing figure) |
|
Q (80,000 × 3/8) |
30,000 |
|
|
|
R (80,000 × 2/8) |
20,000 |
80,000 |
Drawings A/cs: |
|
General Reserve |
20,000 |
P |
8,000 |
|
Profit and Loss A/c |
28,000 |
Q |
7,000 |
|
Creditors |
18,000 |
R |
5,000 |
|
|
|
|
|
|
|
1,46,000 |
|
1,46,000 |
|
|
|
|
|
WN 2
Profit and Loss Appropriation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Interest on Capital A/cs: |
|
Profit and Loss A/c |
28,000 |
|||
P |
1,500 |
|
|
|
||
Q |
1,500 |
|
|
|
||
R |
1,000 |
4,000 |
|
|
||
Profit transferred to: |
|
|
|
|||
P’s Capital A/c |
9,000 |
|
|
|
||
Q’s Capital A/c |
9,000 |
|
|
|
||
R’s Capital A/c |
6,000 |
24,000 |
|
|
||
|
|
|
|
|||
|
28,000 |
|
28,000 |
|||
|
|
|
|
Answer:
Profit and Loss Appropriation Account for the year 2010-11 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Interest on Capital A/cs: |
|
Profit and Loss A/c |
40,000 |
||||
X |
5,000 |
|
|
|
|||
Y |
4,000 |
|
|
|
|||
Z |
3,000 |
12,000 |
|
|
|||
Profit transferred to: |
|
|
|
||||
X’s Capital A/c |
11,200 |
|
|
|
|||
Y’s Capital A/c |
8,400 |
|
|
|
|||
Z’s Capital A/c |
8,400 |
28,000 |
|
|
|||
|
|
|
|
||||
|
40,000 |
|
40,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts for the year 2010-11 |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Drawings A/c |
10,000 |
10,000 |
10,000 |
Balance b/d |
1,00,000 |
80,000 |
60,000 |
||
Balance c/d |
1,06,200 |
82,400 |
61,400 |
Interest on Capital A/c |
5,000 |
4,000 |
3,000 |
||
|
|
|
|
P/L Appropriation A/c |
11,200 |
8,400 |
8,400 |
||
|
|
|
|
|
|
|
|
||
|
1,16,200 |
92,400 |
71,400 |
|
1,16,200 |
92,400 |
71,400 |
||
|
|
|
|
|
|
|
|
||
Profit and Loss Appropriation Account for the year 2011-12 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Interest on Capital A/c: |
|
Profit and Loss A/c |
50,000 |
||||
X (1,06,200 × 5%) |
5,310 |
|
|
|
|||
Y (82,400 × 5%) |
4,120 |
|
|
|
|||
Z (61,400 × 5%) |
3,070 |
12,500 |
|
|
|||
Profit Transferred to: |
|
|
|
||||
X’s Capital A/c |
15,000 |
|
|
|
|||
Y’s Capital A/c |
11,250 |
|
|
|
|||
Z’s Capital A/c |
11,250 |
37,500 |
|
|
|||
|
|
|
|
||||
|
50,000 |
|
50,000 |
||||
|
|
|
|
Partners’ Capital Accounts for the year 2011-12 |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Drawings A/c |
10,000 |
10,000 |
10,000 |
Balance b/d |
1,06,200 |
82,400 |
61,400 |
||
|
|
|
|
Interest on Capital A/c |
5,310 |
4,120 |
3,070 |
||
|
|
|
|
P/L Appropriation A/c |
15,000 |
11,250 |
11,250 |
||
Balance c/d |
1,16,510 |
87,770 |
65,720 |
|
|
|
|
||
|
1,26,510 |
97,770 |
75,720 |
|
1,26,510 |
97,770 |
75,720 |
||
|
|
|
|
|
|
|
|
||
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets |
2,94,000 |
Creditors |
24,000 |
|||
Cash A/c (Creditors) |
24,000 |
Cash A/c (Assets realised) |
2,60,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
X’s Capital A/c |
13,600 |
|
||
|
|
Y’s Capital A/c |
10,200 |
|
||
|
|
Z’s Capital A/c |
10,200 |
34,000 |
||
|
|
|
|
|||
|
3,18,000 |
|
3,18,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts | |||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Realisation A/c (Loss) |
13,600 |
10,200 |
10,200 |
Balance b/d |
1,16,510 |
87,770 |
65,720 |
||
Cash A/c |
1,02,910 |
77,570 |
55,520 |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
1,16,510 |
87,770 |
65,720 |
|
1,16,510 |
87,770 |
65,720 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
2,60,000 |
Realisation A/c |
24,000 |
||
|
|
X’s Capital A/c |
1,02,910 |
||
|
|
Y’s Capital A/c |
77,570 |
||
|
|
Z’s Capital A/c |
55,520 |
||
|
|
|
|
||
|
2,60,000 |
|
2,60,000 |
||
|
|
|
|
||
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
2,94,000 |
|
X |
1,16,510 |
|
(Balancing figure) |
|
Y |
87,770 |
|
|
|
Z |
65,720 |
2,70,000 |
|
|
Creditors |
24,000 |
|
|
|
|
|
|
|
|
|
2,94,000 |
|
2,94,000 |
|
|
|
|
|
Page No 6.72:
Question 48:
Profit and Loss Appropriation Account for the year 2010-11 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Interest on Capital A/cs: |
|
Profit and Loss A/c |
40,000 |
||||
X |
5,000 |
|
|
|
|||
Y |
4,000 |
|
|
|
|||
Z |
3,000 |
12,000 |
|
|
|||
Profit transferred to: |
|
|
|
||||
X’s Capital A/c |
11,200 |
|
|
|
|||
Y’s Capital A/c |
8,400 |
|
|
|
|||
Z’s Capital A/c |
8,400 |
28,000 |
|
|
|||
|
|
|
|
||||
|
40,000 |
|
40,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts for the year 2010-11 |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Drawings A/c |
10,000 |
10,000 |
10,000 |
Balance b/d |
1,00,000 |
80,000 |
60,000 |
||
Balance c/d |
1,06,200 |
82,400 |
61,400 |
Interest on Capital A/c |
5,000 |
4,000 |
3,000 |
||
|
|
|
|
P/L Appropriation A/c |
11,200 |
8,400 |
8,400 |
||
|
|
|
|
|
|
|
|
||
|
1,16,200 |
92,400 |
71,400 |
|
1,16,200 |
92,400 |
71,400 |
||
|
|
|
|
|
|
|
|
||
Profit and Loss Appropriation Account for the year 2011-12 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Interest on Capital A/c: |
|
Profit and Loss A/c |
50,000 |
||||
X (1,06,200 × 5%) |
5,310 |
|
|
|
|||
Y (82,400 × 5%) |
4,120 |
|
|
|
|||
Z (61,400 × 5%) |
3,070 |
12,500 |
|
|
|||
Profit Transferred to: |
|
|
|
||||
X’s Capital A/c |
15,000 |
|
|
|
|||
Y’s Capital A/c |
11,250 |
|
|
|
|||
Z’s Capital A/c |
11,250 |
37,500 |
|
|
|||
|
|
|
|
||||
|
50,000 |
|
50,000 |
||||
|
|
|
|
Partners’ Capital Accounts for the year 2011-12 |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Drawings A/c |
10,000 |
10,000 |
10,000 |
Balance b/d |
1,06,200 |
82,400 |
61,400 |
||
|
|
|
|
Interest on Capital A/c |
5,310 |
4,120 |
3,070 |
||
|
|
|
|
P/L Appropriation A/c |
15,000 |
11,250 |
11,250 |
||
Balance c/d |
1,16,510 |
87,770 |
65,720 |
|
|
|
|
||
|
1,26,510 |
97,770 |
75,720 |
|
1,26,510 |
97,770 |
75,720 |
||
|
|
|
|
|
|
|
|
||
Realisation Account | ||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||
Sundry Assets |
2,94,000 |
Creditors |
24,000 |
|||
Cash A/c (Creditors) |
24,000 |
Cash A/c (Assets realised) |
2,60,000 |
|||
|
|
Loss transferred to: |
|
|||
|
|
X’s Capital A/c |
13,600 |
|
||
|
|
Y’s Capital A/c |
10,200 |
|
||
|
|
Z’s Capital A/c |
10,200 |
34,000 |
||
|
|
|
|
|||
|
3,18,000 |
|
3,18,000 |
|||
|
|
|
|
|||
Partners’ Capital Accounts | |||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Realisation A/c (Loss) |
13,600 |
10,200 |
10,200 |
Balance b/d |
1,16,510 |
87,770 |
65,720 |
||
Cash A/c |
1,02,910 |
77,570 |
55,520 |
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
1,16,510 |
87,770 |
65,720 |
|
1,16,510 |
87,770 |
65,720 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Realisation A/c |
2,60,000 |
Realisation A/c |
24,000 |
||
|
|
X’s Capital A/c |
1,02,910 |
||
|
|
Y’s Capital A/c |
77,570 |
||
|
|
Z’s Capital A/c |
55,520 |
||
|
|
|
|
||
|
2,60,000 |
|
2,60,000 |
||
|
|
|
|
||
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Sundry Assets |
2,94,000 |
|
X |
1,16,510 |
|
(Balancing figure) |
|
Y |
87,770 |
|
|
|
Z |
65,720 |
2,70,000 |
|
|
Creditors |
24,000 |
|
|
|
|
|
|
|
|
|
2,94,000 |
|
2,94,000 |
|
|
|
|
|
Answer:
Profit and Loss Appropriation for the year ended March 31, 2011 |
||||||||
Dr. |
|
Cr. |
||||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|||||
Interest on Capital A/c: |
|
Profit and Loss A/c |
21,600 |
|||||
X (40,000 × 15%) |
6,000 |
|
Interest on Drawings |
|
||||
Y (30,000 × 15%) |
4,500 |
|
X (6,000 × 5%) |
300 |
|
|||
Z (20,000 × 15%) |
3,000 |
13,500 |
Y (6,000 × 5%) |
300 |
|
|||
|
|
Z (6,000 × 5%) |
300 |
900 |
||||
Profit transferred to: |
|
|
|
|||||
X’s Capital A/c |
4,500 |
|
|
|
||||
Y’s Capital A/c |
3,000 |
|
|
|
||||
Z’s Capital A/c |
1,500 |
9,000 |
|
|
||||
|
22,500 |
|
22,500 |
|||||
|
|
|
|
|||||
Partners’ Capital Accounts for the year 2010-11 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
Drawings A/c |
6,000 |
6,000 |
6,000 |
Cash A/c |
40,000 |
30,000 |
20,000 |
Interest on Drawings |
300 |
300 |
300 |
Interest on Capital A/c |
6,000 |
4,500 |
3,000 |
|
|
|
|
P/L Appropriation A/c |
4,500 |
3,000 |
1,500 |
Balance c/d |
44,200 |
31,200 |
18,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
50,500 |
37,500 |
24,500 |
|
50,500 |
37,500 |
24,500 |
|
|
|
|
|
|
|
|
Profit and Loss Appropriation Account for the year ended March 31, 2012 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Interest on Capital A/c |
|
Profit and Loss |
25,140 |
||||
X (44,200 × 15%) |
6,630 |
|
Interest on Drawings |
|
|||
Y (31,200 × 15%) |
4,680 |
|
X (6,000 × 5%) |
300 |
|
||
Z (18,200 × 15%) |
2,730 |
14,040 |
Y (6,000 × 5%) |
300 |
|
||
Profit transferred to : |
|
Z (6,000 × 5%) |
300 |
900 |
|||
X’s Capital A/c |
6,000 |
|
|
|
|||
Y’s Capital A/c |
4,000 |
|
|
|
|||
Z’s Capital A/c |
2,000 |
12,000 |
|
|
|||
|
26,040 |
|
26,040 |
||||
|
|
|
|
||||
Partners’ Capital Accounts for the year ended March 31,2012 |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
Drawings A/c |
6,000 |
6,000 |
6,000 |
Balance b/d |
44,200 |
31,200 |
18,200 |
||
Interest on Drawing |
300 |
300 |
300 |
Interest on Capital A/c |
6,630 |
4,680 |
2,730 |
||
Balance c/d |
50,530 |
33,580 |
16,630 |
P/L Appropriation A/c |
6,000 |
4,000 |
2,000 |
||
|
|
|
|
|
|
|
|
||
|
56,830 |
39,880 |
22,930 |
|
56,830 |
39,880 |
22,930 |
||
|
|
|
|
|
|
|
|
||
|
|
|
|
Balance b/d |
50,530 |
33,580 |
16,630 |
||
Cash A/c |
51,280 |
34,080 |
16,880 |
Realisation A/c (Profit) |
750 |
500 |
250 |
||
|
|
|
|
|
|
|
|
||
|
51,280 |
34,080 |
16880 |
|
51,280 |
34,080 |
16,880 |
||
|
|
|
|
|
|
|
|
||
Realisation Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||||
Sundry Assets |
1,18,740 |
Creditors |
20,000 |
||||
Cash A/c: |
|
Cash (Assets realised) |
1,21,000 |
||||
Creditors |
20,000 |
|
|
|
|||
Expanses |
760 |
20,760 |
|
|
|||
Profit transferred to: |
|
|
|
||||
X’s Capital A/c |
750 |
|
|
|
|||
Y’s Capital A/c |
500 |
|
|
|
|||
Z’s Capital A/c |
250 |
1,500 |
|
|
|||
|
|
|
|
||||
|
1,41,000 |
|
1,41,000 |
||||
|
|
|
|
||||
Partners’ Capital Accounts |
|||||||||
Dr. |
|
Cr. |
|||||||
Particulars |
X |
Y |
Z |
Particulars |
X |
Y |
Z |
||
|
|
|
|
Balance b/d |
50,530 |
33,580 |
16,630 |
||
Cash A/c |
51,280 |
34,080 |
16,880 |
Realisation A/c (Profit) |
750 |
500 |
250 |
||
|
|
|
|
|
|
|
|
||
|
51,280 |
34,080 |
16880 |
|
51,280 |
34,080 |
16,880 |
||
|
|
|
|
|
|
|
|
||
Cash Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount Rs |
Particulars |
Amount Rs |
||
Balance b/d |
2,000 |
Realisation A/c |
20,760 |
||
Realisation A/c |
1,21,000 |
X’s Capital A/c |
51,280 |
||
|
|
Y’s Capital A/c |
34,080 |
||
|
|
Z’s Capital A/c |
16,880 |
||
|
|
|
|
||
|
1,23,000 |
|
1,23,000 |
||
|
|
|
|
||
Memorandum Balance Sheet as on March 31, 2012 |
||||
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
Capital A/cs: |
|
Cash |
2,000 |
|
X |
50,530 |
|
Sundry Assets |
1,18,740 |
Y |
33,580 |
|
|
|
Z |
16,630 |
1,00,740 |
|
|
Creditors |
20,000 |
|
|
|
|
|
|
|
|
|
1,20,740 |
|
1,20,740 |
|
|
|
|
|
View NCERT Solutions for all chapters of Class 15