Ques 12 urgently
Dear student
REALISATION ACCOUNT
DR CR
PARTNER CAPITAL ACCOUNT
DR CR
BANK ACCOUNT
DR CR
Regards
REALISATION ACCOUNT
DR CR
PARTICULAR | AMOUNT | PARTICULAR | AMOUNT |
To sundry assets: land and building 70,000 machinery 60,000 debtors 80,000 |
2,10,000 |
By creditors | 70,000 |
To bank A/C (creditors) | 20,000 | By bank A/C (Machinery) | 42,000 |
To bank A/C (collection charges) | 500 | By bank A/C (Debtors) | 80,000 |
To bank A/C (realisation expenses) | 1,700 | By capital A/C Verma 30,150 sharma 10,050 |
40,200 |
2,32,200 | 2,32,200 |
PARTNER CAPITAL ACCOUNT
DR CR
PARTICULAR | VERMA | SHARMA | PARTICULAR | VERMA | SHARMA |
To realisation A/C (Loss) | 30,150 | 10,050 | By balance B/D | 1,20,000 | 80,000 |
To bank A/C | 89,850 | 69,950 | |||
1,20,000 | 80,000 | 1,20,000 | 80,000 |
BANK ACCOUNT
DR CR
PARTICULR | AMOUNT | PARTICULAR | AMOUNT |
To balance B/D | 60,000 | By realisation A/C (creditors) | 20,000 |
To realisation A/C (machinery) | 42,000 | By realisation A/C ( realisation expenses) | 1,700 |
To realisation A/C (debtors) | 80,000 | By realisation A/C (collection charges) | 500 |
By verma | 89,850 | ||
By sharma | 69,950 | ||
1,82,000 | 1,82,000 |
Regards