Page 229 - VIRANSH COACHING CLASSES

In the books of Jajeev and Sanjeev.
Dr. Realisation Account Cr.
Particulars Amount Amount Particulars Amount Amount
(`) (`) (`) (`)
To Sundry Assets A/c By Sundry Liabilities A/c
Building 20,000 Creditors 12,800
Furniture 6,000 Bills Payable 7,200 20,000

Debtors 18,400 By Cash A/c
Stock 20,000 Stock 18,400
Bills Receivable 2,000 66,000 Debtors 16,600
To Cash A/c Bill Receivable 1,980 36,980
Creditors Bills 12,800 By Sanjeev’s Capital A/c 18,000
Payable 7,200 20,000 (Building taken)
To Cash A/c 600 By Rajeev’s Capital A/c 5,400
(Realisation (Furniture taken)
Expensesp Paid)
By Partners ’Capital A/c
(Loss on Realisation
transferred.)

Rajeev 3,110
Sanjeev 3,110 6,220

86,600 86,600

Dr. Partners’ Capital Account Cr.
Particulars Rajeev Sanjeev Particulars Rajeev Sanjeev
(`) (`) (`) (`)
To Realisation A/c 5,400 18,000 By Balance b/d 20,000 24,000
To Realisation A/c 3,110 3,110 By General Reserve A/c 4,000 4,000
(Loss on Realisation)
To Cash A/c 15,490 6,890

24,000 28,000 24,000 28,000
Working Note :
Dr. Cash Account Cr.
Particulars Amount ` Particulars Amount `
To Balance b/d 6,000 By Realisation A/c 20,000
To Realisation A/c 36,980 By Realisation A/c 600
By Rajeev’s Capital A/c 15,490
By Sanjeev’s Capital A/c 6,890
42,980 42,980

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