Double Entry Book Keeping Ts Grewal 2017 for Class 12 Commerce Accountancy Chapter 5 - Dissolution Of A Partnership Firm

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Page No 5.59:

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
1)	Realisation A/c	Dr.		2,500
	To Bank A/c				2,500
	(Dissolution expenses paid)

2)	Bank A/c	Dr.		12,500
	To Realisation A/c				12,500
	(Bad debts recovered)

3)	A’s Capital A/c	Dr.		5,000
	To Realisation A/c				5,000
	(Stock taken by A)

4)	Realisation A/c	Dr.		8,000
	To Bank A/c				8,000
	(Payment made to creditors)

5)	Bank A/c	Dr.		15,000
	To Realisation A/c				15,000
	(Investment realised at 150%)

6)	Realisation A/c	Dr.		24,000
	To A’s Capital A/c				18,000
	To B’s Capital A/c				6,000
	(Profit made on realisation transferred to Partners’ Capital Accounts)

Page No 5.59:

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
1)	Realisation A/c	Dr.		10,000
	To Bank A/c				10,000
	(Realisation expenses paid)

2)	No Entry

3)	Y’s Capital A/c	Dr.		20,000
	To Realisation A/c				20,000
	(Machine taken over by Y)

4)	Realisation A/c	Dr.		20,000
	To Z’s Capital A/c				20,000
	(Payment of creditors made by Z)

5)	X’s Loan A/c	Dr.		50,000
	To Bank A/c				50,000
	(Loan repaid)

6)	X’s Capital A/c	Dr.		10,000
	Y’s Capital A/c	Dr.		10,000
	Z’s Capital A/c	Dr.		10,000
	To Profit & Loss A/c				30,000
	(Balance of Profit and Loss Account distributed among the partners)

7)	X’s Capital A/c	Dr.		25,000
	To Realisation A/c				25,000
	(Goodwill taken over by Z)

Page No 5.59:

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
1)	Realisation A/c	Dr.		10,000
	To Bank A/c				10,000
	(Realisation expenses paid)

2)	Aman’s Capital A/c	Dr.		5,000
	To Bank A/c				5,000
	(Realisation expenses paid by firm, to be borne by partner)

3)	Realisation A/c	Dr.		6,000
	To Ramesh’s Capital A/c				6,000
	(Realisation expenses paid by partner)

4)	Realisation A/c	Dr.		8,000
	To Sanjay’s Capital A/c				8,000
	(Realisation expenses to be borne by firm)

5)	Realisation A/c	Dr.		22,000
	Sonu’s Capital A/c			8,000
	To Bank A/c				30,000
	(Realisation expenses paid by firm)

6)	No Entry

7)	Realisation A/c	Dr.		5,000
	To Subrato Mukerjee’s Capital A/c				5,000
	(Realisation expenses paid by partner)

Page No 5.59:

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
Stock		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 5.60:

Answer:

Realisation Account
Particulars			Amount (Rs)	Particulars		Amount (Rs)
Sundry Debtors			10,000	Sundry Creditors		20,000
Investments			20,000	X’s Capital (Investments)		19,000
Machinery			80,000	Bank:
Stock			15,000	Debtors	9,000
Bank:				Stock	14,000
Expenses		2,000		Machinery	90,000	1,13,000
Creditors		19,000	21,000
Profit transferred to:
X’s Capital A/c	2,000
Y’s Capital A/c	2,000
Z’s Capital A/c	2,000		6,000
			1,52,000			1,52,000

Partners’ Capital Accounts
Dr.								Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
Realisation A/c	19,000	−	−	Balance b/d	50,000	40,000	30,000
Bank (Final Payment)	38,000	47,000	37,000	Profit & Loss A/c	5,000	5,000	5,000
				Realisation A/c	2,000	2,000	2,000
	57,000	47,000	37,000		57,000	47,000	37,000

Bank Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	30,000	Realisation A/c	21,000
Realisation A/c	1,13,000	X’s Capital A/c	38,000
		Y’s Capital A/c	47,000
		Z’s Capital A/c	37,000
	1,43,000		1,43,000

Page No 5.60:

Answer:

Realisation Account
Particulars		Amount (Rs)	Particulars		Amount (Rs)
Furniture		24,000	Creditors		28,000
Debtors		16,000	B’s Capital (Furniture)		18,000
Investments		90,000	A’s Loan A/c		1,000
Machinery		30,000	Bank:
Stock		48,000	Debtors	15,000
Bank:			Investments	70,000
Expenses	5,000		Stock	44,000
Creditors	28,000	33,000	Machinery	32,000	1,61,000
			Loss transferred to:
			A’s Capital A/c	16,500
			B’s Capital A/c	16,500	33,000
		2,41,000			2,41,000

Partners’ Capital Accounts
Dr.						Cr.
Particulars	A	B	Particulars	A	B
Realisation A/c	−	18,000	Balance b/d	1,00,000	80,000
Realisation A/c	16,500	16,500	General Reserve	8,000	8,000
Bank (Final Payment)	91,500	53,500
	1,08,000	88,000		1,08,000	88,000

Bank Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	22,000	Realisation A/c	33,000
Realisation A/c	1,61,000	A’s Loan A/c	5,000
		A’s Capital A/c	91,500
		B’s Capital A/c	53,500
	1,83,000		1,83,000

A’s Loan Account
Particulars	Amount (Rs)		Amount (Rs)
Bank A/c	5,000	Balance b/d	6,000
Realisation A/c	1,000
	6,000		6,000

Page No 5.60:

Answer:

Realisation Account
Particulars		Amount (Rs)	Particulars			Amount (Rs)
Debtors		16,000	Creditors			24,000
Furniture		4,000	Provision for Doubtful Debts			400
Building		44,000	Bank:
Stock		12,000	Debtors		14,000
Bank:			Stock		10,000
Liability for Damages	6,000		Furniture		2,000
Expenses	2,000		Building		50,000	76,000
Creditors	22,000	30,000	Loss transferred to:
			X’s Capital A/c	2,240
			Y’s Capital A/c		2,240
			Z’s Capital A/c		1,120	5,600
		1,06,000				1,06,000

Partners’ Capital Accounts
Dr.								Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
Advertisement Suspense A/c	2,000	2,000	1,000	Balance b/d	30,000	24,000	12,000
Realisation A/c	2,240	2,240	1,120	Reserve	6,000	6,000	3,000
Bank (Final Payment)	31,760	25,760	12,880
	36,000	30,000	15,000		36,000	30,000	15,000

Bank Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	24,400	Realisation A/c	30,000
Realisation A/c	76,000	X’s Capital A/c	31,760
		Y’s Capital A/c	25,760
		Z’s Capital A/c	12,880
	1,00,400		1,00,400

Page No 5.61:

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
				Typewriter	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 5.61:

Answer:

Realisation Account
Particulars			Amount (Rs)	Particulars		Amount (Rs)
Building			60,000	Employees’ Provident Fund		18,000
Plant			1,32,000	Depreciation Reserve		30,000
Stock			36,000	Creditors		66,000
Computers			37,200	X’s Capital A/c (Building)		60,000
Debtors			30,000	Cash:
Accrued Commission			6,000	Debtors	27,600
X’s Capital A/c (Creditors)			66,000	Plant	1,50,000
Cash:				Stock	30,000
Expenses		3,600		Computers	37,200	2,44,800
Contingent Liability		3,600
Employees’ Provident Fund		18,000	25,200
Profit transferred to:
X’s Capital A/c	13,200
Y’s Capital A/c	8,800
Z’s Capital A/c	4,400		26,400
			4,18,800			4,18,800

Partners’ Capital Accounts
Dr.								Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
Realisation	60,000			Balance b/d	72,000	51,600	62,400
Cash A/c (Final Payment)	1,00,200	66,400	69,800	Reserve	9,000	6,000	3,000
				Realisation A/c	66,000
				Realisation A/c	13,200	8,800	4,400
	1,60,200	66,400	69,800		1,60,200	66,400	69,800

Cash Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	16,800	Realisation A/c	25,200
Realisation A/c	2,44,800	X’s Capital A/c	1,00,200
		Y’s Capital A/c	66,400
		Z’s Capital A/c	69,800
	2,61,600		2,61,600

Page No 5.62:

Answer:

Realisation Account
Particulars		Amount (Rs)	Particulars			Amount (Rs)
Goodwill		60,000	Bank Loan			60,000
Machinery		2,50,000	Sundry Creditors			1,20,000
Furniture		30,000	X’s Capital A/c (Stock)			32,000
Stock		1,00,000	Y’s Capital A/c (Furniture)			24,000
Debtors		60,000	Cash A/c:
Cash A/c:			Debtors		51,000
Expenses	3,000		Machinery		2,20,000
Creditors	1,20,000		Stock		35,000	3,06,000
Bank Loan	60,000	1,83,000	Loss transferred to:
			X’s Capital A/c	70,500
			Y’s Capital A/c		47,000
			Z’s Capital A/c		23,500	1,41,000
		6,83,000				6,83,000

Partners’ Capital Accounts
Dr.								Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
Realisation A/c	32,000	24,000	−	Balance b/d	1,80,000	1,20,000	60,000
Realisation A/c	70,500	47,000	23,500
Cash A/c (Final Payment)	77,500	49,000	36,500
	1,80,000	1,20,000	60,000		1,80,000	1,20,000	60,000

Cash Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	40,000	Realisation A/c	1,83,000
Realisation A/c	3,06,000	X’s Capital A/c	77,500
		Y’s Capital A/c	49,000
		Z’s Capital A/c	36,500
	3,46,000		3,46,000

Page No 5.62:

Answer:

Realisation Account
Particulars			Amount (Rs)	Particulars		Amount (Rs)
Debtors			90,000	Creditors		1,50,000
Stock			60,000	Bills Payable		30,000
Furniture			45,000	R’s Loan A/c		36,000
Land and Building			7,35,000	Z’s Capital A/c (Stock)		45,000
Bank A/c:				Bank A/c:
Creditors		1,35,000		Debtors	84,000
Bills Payable		27,000		Furniture	36,000
R’s Loan		36,000	1,98,000	Land and Building	8,40,000
Profit transferred to:				Unrecorded Assets	3,00,000	12,60,000
X’s Capital A/c	1,31,000
Y’s Capital A/c	1,31,000
Z’s Capital A/c	1,31,000		3,93,000
			15,21,000			15,21,000

Partners’ Capital Accounts
Dr.								Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
Balance b/d		60,000		Balance b/d	3,00,000		4,50,000
Realisation A/c			45,000	General Reserve	20,000	20,000	20,000
Bank A/c (Final Payment)	4,51,000	91,000	5,56,000	Realisation A/c	1,31,000	1,31,000	1,31,000
	4,51,000	1,51,000	6,01,000		4,51,000	1,51,000	6,01,000

Bank Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	60,000	Realisation A/c	1,98,000
Realisation A/c	12,60,000	X’s Capital A/c	4,51,000
		Y’s Capital A/c	91,000
		Z’s Capital A/c	5,56,000
		Y’s Loan A/c	24,000
	13,20,000		13,20,000

Page No 5.62:

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 5.63:

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 5.63:

Answer:

Realisation Account
Particulars		Amount (Rs)	Particulars		Amount (Rs)
Stock		54,800	Creditors		20,000
Investments		20,000	Provision for Doubtful Debts		1,800
Sundry Debtors		40,000	Bank A/c (Realisation of Assets):
Machinery		40,000	Stock	45,000
Land and Building		1,00,000	Machinery	32,000
Bank A/c (Creditors)		19,000	Debtors	35,000
Bank A/c (Realisation Expenses)		1,200	Typewriter	5,000
			Land and Building	1,30,000	2,47,000
			X’s Capital A/c (Investments)		15,000
Profit transferred to:
X’s Capital A/c	5,280
Y’s Capital A/c	3,520	8,800
		2,83,800			2,83,800

Partners’ Capital Accounts
Dr.					Cr.
Particulars	X	Y	Particulars	X	Y
Loan to Y		10,000	Balance b/d	1,20,000	90,000
Realisation A/c (Investments)	15,000		Workmen Compensation Reserve	15,000	10,000
Bank A/c (Final Settlement)	1,25,280	93,520	Realisation A/c (Profit)	5,280	3,520

	1,40,280	1,03,520		1,40,280	1,03,520

Bank Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	8,000	Loan from X	16,000
Realisation (Assets)	2,47,000	Realisation Expenses	1,200
		Realisation A/c (Creditors)	19,000
		X’s Capital A/c	1,25,280
		Y’s Capital A/c	93,520
	2,55,000		2,55,000

Page No 5.64:

Answer:

Realisation Account
Particulars		Amount (Rs)	Particulars				Amount (Rs)
Investments		60,000	Bills Payable				10,000
Machinery		80,000	Creditors				90,000
Furniture		50,000	Bank A/c:
Stock		1,00,000	Investments	90,000
Debtors		20,000	Machinery	56,000
Bills Receivable		10,000	Bills Receivable	9,500
Bank A/c:			Debtors	19,000
Unrecorded Liability	2,500		Stock (WN)	80,000			2,54,500
Creditors	90,000		Z’s Capital A/c (Furniture)				40,000
Bills Payable	10,000	1,02,500	Loss transferred to:
			X’s Capital A/c		9,333
			Y’s Capital A/c			9,333
			Z’s Capital A/c			9,334	28,000
		4,22,500					4,22,500

Working Notes: Calculation of amount realised from sale of stock
Stock = Rs 1,00,000

Components of Stock-in-Trade	Amount Realised
70,000 (70% of 1,00,000)	70,000 (full)
10,000 (10% of 1,00,000)	Nil
20,000 (20% of 1,00,000)	10,000 (50% of book value)
Total	80,000

Page No 5.64:

Answer:

Realisation Account
Particulars		Amount (Rs)	Particulars		Amount (Rs)
Goodwill		30,000	Provision for Doubtful debts		4,000
Building		24,000	Sundry Creditors		4,000
Furniture		4,000	Bills Payable		10,000
Stock		14,000	Cash A/c:
Sundry Debtors		30,000	Building	32,000
Bills Receivable		6,000	Furniture	4,000
Cash A/c:			Sundry Debtors	24,000
Expenses	3,400		Stock	10,000
Compensation to Employees	3,000		Bills Receivable	5,000
Bills Payable	10,000		Cash A/c (Typewriter)	4,000	79,000
Sundry Creditors	3,600	20,000
			Loss transferred to:
			A’s Capital A/c	15,500
			B’s Capital A/c	15,500	31,000
		1,28,000			1,28,000

Partners’ Capital Accounts
Dr.						Cr.
Particulars	A	B	Particulars	A	B
Realisation A/c	15,500	15,500	Balance b/d	34,000	28,000
Cash (Final Payment)	24,500	18,500	Reserve	6,000	6,000
	40,000	34,000		40,000	34,000

Cash Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	4,000	Realisation A/c	20,000
Realisation A/c	79,000	A’s Loan A/c	20,000
		A’s Capital	24,500
		B’s Capital	18,500
	83,000		83,000

Page No 5.65:

Answer:

Realisation Account
Particulars		Amount (Rs)	Particulars			Amount (Rs)
Investments		10,000	Provision for Doubtful Debts			2,000
Fixed Assets		39,000	Sundry Creditors			30,000
Stock		5,000	Bills Payable			8,000
Debtors		20,000	Fixed Assets Replacement Reserve			1,000
X’s Capital A/c			Loan from Mrs. X			5,000
Loan from Mrs. X	5,000		Loan from Mrs. Y			10,000
Expenses	1,000	6,000	Bank A/c
Bank A/c			Debtors (WN1)	19,000
Creditors (WN2)	29,850		Fixed Assets	71,000
Bills Payable (WN2)	7,960		Investments	4,500		94,500
Loan from Mrs. Y	10,000	47,810	X’s Capital A/c (Stock)			4,000
Profit transferred to:			Y’s Capital A/c
X’s Capital A/c	15,745		Investments		4,500
Y’s Capital A/c	15,745	31,490	Furniture		300	4,800
		1,59,300				1,59,300

Partners’ Capital Accounts
Dr.						Cr.
Particulars	X	Y	Particulars	X	Y
Profit & Loss A/c	1,500	1,500	Balance b/d	10,000	10,000
Advertisement Suspense A/c	250	250	Workmen Compensation Reserve	5,000	5,000
Realisation A/c	4,000	4,800	Realisation A/c	6,000	−
Bank (Final Payment)	30,995	24,195	Realisation A/c	15,745	15,745
	36,745	30,745		36,745	30,745

Bank Account
Particulars	Amount (Rs)		Amount (Rs)
Balance b/d	8,500	Realisation A/c	47,810
Realisation A/c	94,500	X’s Capital A/c	30,995
		Y’s Capital A/c	24,195
	1,03,000		1,03,000

Working Notes:

WN 1: Calculation of amount realised from debtors
$\begin{array}{l} Amount of Debtors = Rs 20,000 \\ Discount allowed to Debtors = Rs 20,000 × \frac{6}{100} × \frac{10}{12} = Rs 1,000 \\ ∴ Amount realised = Rs 19,000 \end{array}$

WN 2: Calculation of amount paid to Creditors and Bills Payable
$\begin{array}{l} Amount of Creditors = Rs 30,000 \\ Discount received = 30,000 × \frac{6}{100} × \frac{1}{12} = Rs 150 \\ ∴ Amount paid = Rs 29,850 \\ Amount of Bills Payable = Rs 8,000 \\ Discount received = 8,000 × \frac{6}{100} × \frac{1}{12} = Rs 40 \\ ∴ Amount paid = Rs 7,960 \end{array}$

Page No 5.65:

Answer:

Realisation Account
Particulars		Amount (Rs)	Particulars		Amount (Rs)
Building		6,00,000	Employees’ Provident Fund		80,000
Equipments		1,20,000	Bank Loan		2,60,000
Sundry Debtors		3,60,000	Sundry Creditors		2,00,000
Stock		4,80,000	Bank A/c
Bank A/c:			Unrecorded Asset	45,000
Sundry Creditors	72,000		Bad Debts Recovered	1,50,000
Bank Loan	30,000		Equipments	18,000
Employees’ Provident Fund	80,000	1,82,000	Building	5,85,000
Y’s Capital A/c (Remuneration)		36,000	Debtors	3,30,000	11,28,000
			Loss transferred to:
			X’s Capital A/c	22,000
			Y’s Capital A/c	33,000
			Z’s Capital A/c	55,000	1,10,000

		17,78,000			17,78,000

Partners’ Capital Accounts
Dr.								Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
Bank A/c	−	33,600	−	Balance b/d	2,10,000	2,70,000	3,30,000
Realisation A/c	22,000	33,000	55,000	Realisation A/c	−	36,000	−
Bank A/c (Final Payment)	1,88,000	2,39,400	2,75,000

	2,10,000	3,06,000	3,30,000		2,10,000	3,06,000	3,30,000

Bank Account
Particulars	Amount (Rs)	Particulars	Amount (Rs)
Balance b/d	1,80,000	X’s Loan A/c	3,90,000
Realisation A/c	11,28,000	Realisation A/c	1,82,000
		X’s Capital	1,88,000
		Y’s Capital	2,73,000
		Z’s Capital	2,75,000
	13,08,000		13,08,000

Page No 5.66:

Answer:

Realisation Account
Particulars			Amount (Rs)	Particulars		Amount (Rs)
Debtors			50,000	Creditors		60,000
Stock			60,000	Employees’ Provident fund		5,000
Furniture			1,25,000	Loan from Mrs. A		5,000
Patents			35,000	B’s Current A/c (Stock)		55,000
Building			3,20,000	C’s Current A/c (Building)		4,00,000
A’s Current A/c (Expenses)			10,000	Bank A/c:
Bank A/c:				Debtors	48,000
Creditors		55,000		Furniture	97,000	1,45,000
Employees’ Provident Fund		5,000
Loan from Mrs. A		5,000	65,000
Profit transferred to:
A’s Capital A/c	2,500
B’s Capital A/c	1,500
C’s Capital A/c	1,000		5,000

			6,70,000			6,70,000

Partners’ Capital Accounts
Dr.								Cr.
Particulars	A	B	C	Particulars	A	B	C
Current A/c	−	3,63,500	−	Balance b/d	2,00,000	1,50,000	1,50,000
Bank (Balancing Figure)	2,00,500	−	1,51,000	Current A/c	500	−	1,000
				Bank A/c (Balancing Figure)	−	2,13,500	−
	2,00,500	3,63,500	1,51,000		2,00,500	3,63,500	1,51,000

Partners’ Current Accounts
Dr.								Cr.
Particulars	A	B	C	Particulars	A	B	C
Balance b/d	−	−	12,000	Balance b/d	25,000	17,000	−
Bank A/c