Page 145 - VIRANSH COACHING CLASSES

In the Books of Sujata, Pournima, Aparna
JOURNAL
Date Particulars L.F. Debit ` Credit `
2018 Cash A/c ............................................................Dr. 1,40,000
April 1 st To Aparna’s Capital A/c 1,00,000
To Goodwill A/c 40,000
(Being cash brought in by Aparna as her share of
capital and goodwill)
April 1 st Goodwill A/c .....................................................Dr. 40,000
To Sujata’s capital A/c 20,000
To Pournima’s capital A/c 20,000
(Being the amount of goodwill distributed among
partners in scarifying ratio)
April 1 st Revaluation A/c ................................................Dr. 24,600
To RDD A/c 2,600
To Stock A/c 8,000
To Plant & Machinery A/c 14,000
(Being decrease in value of Debtors, Stock, Plant
and Machinery recorded in revaluation accounts)
April 1 st Land & Building A/c ........................................Dr. 20,000
To Revaluation A/c 20,000
(Being increase in value of Debtors and Building
recorded in revaluation accounts)
April 1 st Sujata’s capital A/c 2,300
Aparna’s capital A/c 2,300
To Revaluation A/c 4,600
(Being loss on revaluation transferred to partners
capital account)

st
BALANCE SHEET AS ON 1 APRIL 2018
Liabilities Amt (`) Amt (`) Assets Amt (`) Amt (`)
Creditors 34,000 Cash in hand 2,20,000
Bills Payable 26,000 Sundry Debtors 26,000
Capitals Less : Provision 2,600 23,400
Sujata 1,17,700 Stock 40,000
Pournima 1,57,700 Less: - Decrease 8,000 32,000
Aparna 1,00,000 3,75,400 Furniture 24,000
Land & Building 60,000
Add: - Appreciation 20,000 80,000
Plant and Machinery 70,000
Less: - Depreciation 14,000 56,000

4,35,400 4,35,400

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