Solve qno 18 with working notes and no lonk Send fast - Accountancy - Dissolution of Partnership Firm

Question

Solve qno 18 with working notes and no lonk Send fast

Shubham Kalra · Accepted Answer

Dear student,

JOURNAL

date
particulars

l f
debit
Rs
credit
Rs

Realisation a/c
dr

57600

to plant and machinery a/c

30000

to investment a/c

15000

to debtors a/c

7100

to stock a/c

5500

(being asset transferred to realisation a/c)

investment fluctuation fund a/c
dr

4500

creditors a/c
dr

10000

bills payable a/c
dr

3700

provision for doubtful debts a/c
dr

450

to realisation a/c

18650

(being liabilities transferred to realisation a/c)

A's capital a/c
dr

12500

to realisation a/c

12500

(investment taken over by A)

cash
dr

11500

to realisation a/c

11500

(debtors and stock realised)

cash a/c
dr

22500

to realisation a/c

22500

(plant nd machinery sold to Q)

cash a/c
dr

1500

to realisation a/c

1500

(unrecorded asset realised)

realisation a/c
dr

800

to cash a/c

800

(realisation expenses paid)

Realisation a/c
dr

18200

to cash a/c

18200

(liabilities paid)

realisation a/c
dr

1200

to A's capital a/c

1200

(commission givent to A )

A'capital a/c
dr

5575

B's capital a/c
dr

3345

C's capital a/c
dr

2230

to realisation a/c

11150

(realisation loss transaferred to capital accounts)

workings

Realisation a/c

particulars
Rs
particulars
Rs

to plant and machinery
30000
by investment fluctuation fund a/c
4500

to stock
5500
by creditors
10000

to debtors
7100
by bills payable
3700

to investment
15000
by provision for doubtful debts a/c
450

to cash (realisation expenses)
800
by A's capital a/c
12500

to cash (liabilities paid)
18200
by cash (stock and debtors)
11500

to A's capital atc
1200
by cash (plant and machinery)
22500

by cash(unrecorded asset)
1500

byloss to capital a/c
A 5575
B 3345
C 2230
11150

77800

Regards!!

date	particulars		l.f	debit Rs	credit Rs
	Realisation a/c	dr		57600
	to plant and machinery a/c				30000
	to investment a/c				15000
	to debtors a/c				7100
	to stock a/c				5500
	(being asset transferred to realisation a/c)

	investment fluctuation fund a/c	dr		4500
	creditors a/c	dr		10000
	bills payable a/c	dr		3700
	provision for doubtful debts a/c	dr		450
	to realisation a/c				18650
	(being liabilities transferred to realisation a/c)

	A's capital a/c	dr		12500
	to realisation a/c				12500
	(investment taken over by A)

	cash	dr		11500
	to realisation a/c				11500
	(debtors and stock realised)

	cash a/c	dr		22500
	to realisation a/c				22500
	(plant nd machinery sold to Q)

	cash a/c	dr		1500
	to realisation a/c				1500
	(unrecorded asset realised)

	realisation a/c	dr		800
	to cash a/c				800
	(realisation expenses paid)

	Realisation a/c	dr		18200
	to cash a/c				18200
	(liabilities paid)

	realisation a/c	dr		1200
	to A's capital a/c				1200
	(commission givent to A )

	A'capital a/c	dr		5575
	B's capital a/c	dr		3345
	C's capital a/c	dr		2230
	to realisation a/c				11150
	(realisation loss transaferred to capital accounts)

particulars	Rs	particulars	Rs
to plant and machinery	30000	by investment fluctuation fund a/c	4500
to stock	5500	by creditors	10000
to debtors	7100	by bills payable	3700
to investment	15000	by provision for doubtful debts a/c	450
to cash (realisation expenses)	800	by A's capital a/c	12500
to cash (liabilities paid)	18200	by cash (stock and debtors)	11500
to A's capital atc	1200	by cash (plant and machinery)	22500
		by cash(unrecorded asset)	1500
		byloss to capital a/c A 5575 B 3345 C 2230	11150


	77800		77800

Solve qno 18 with working notes and no lonk . Send fast