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C. Sundry Creditors were taken over by Moon at ` 24,000.
D. The Realisation Expenses amounted to ` 2,000

You are required to prepare necessary Ledger Account in the Books of firm.
5
In the books of Sun, Moon and Star
Dr. Realisation Account Cr.
Particulars Swara Swaraj Particulars Swara Swaraj
(`) (`) (`) (`)
To Sundry Assets A/c By Sundry Liabilities A/c
Furniture 20,000 Creditors 26,000
Goodwill 13,000 Joint Life Policy Fund 30,000
Joint Life Policy 30,000 Outstanding Rent 4,000 60,000
Sundry Debtors 60,000

Stock 22,000 1,45000
To Moon’s Capital A/c 24,000 By Sun’s Capital A/c
(Sundry Creditors Furniture 35,000
taken over) Stock 28,000 63,000
To Bank A/c (taken over)
Outstanding Rent 4,000
Realisation Expenses 2,000 6,000 By Bank A/c :
To Partner’s Capital A/c : Joint Life Policy 30,000
(Profit on Realisation Sundry Debtors 48,000 78,000
transferred.)
Sun 13,000
Moon 7,800
Star 5,200 26,000
2,01,000 2,01,000
Dr. Partners’ Capital Account Cr.

Particulars Sun Moon Star Particulars Sun Moon Star
(`) (`) (`) (`) (`) (`)
To Balance b/d 10,000 By Balance b/d 35,000 85,000
To Realisation A/c 63,000 By Reserve Fund 7,500 4,500 3,000
To Bank A/c 26,300 93,200 By Realisation A/c 24,000
By Realisation A/c
(Profit on Realisation) 13,000 7,800 5,200
By Bank A/c 7,500
63,000 36,300 93,200 63,000 36,300 93,200

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