Page 240 - VIRANSH COACHING CLASSES

Solution In the books of Kadam, Shinde and Chavan
Dr. Realisation Account Cr.

Particulars Amount Amount Particulars Amount Amount
(`) (`) (`) (`)
To Sundry Assets A/c By Sundry Liabilities A/c
Building 28,500 Creditors 18,750
Machinery 20,250 Bills payable 11,250 30,000
Furniture 4,500 By Bank A/c

Stock 30,750 Building 27,000
Debtors 15,000 Machinery 18,000
Bill Receivable 9,000 1,08,000 Debtors 7,500
Goodwill 1,350 53,850
To Kadam’s Capital A/c 18,000 By Kadam’s Capital A/c
(Creditors taken) (Furniture and Stock tak- 30,000
en.)
To Shinde’s Capital A/c 11,250 By Shinde’s Capital A/c 7,800
(Bills payable taken) (Bills Receivable taken)
To Bank A/c 2,400 By Partner’s Capital A/c
(Realisation Expenses) (Loss transferred to)
Kadam 9,000
Shinde 3,000
Chavan 6,000 18,000

1,39,650 1,39,650

Dr. Partners’ Capital Account Cr.
Particulars Kadam Shinde Chavan Particulars Kadam Shinde Chavan
(`) (`) (`) (`) (`) (`)
To Balance b/d 12,750 By Balance b/d 36,000 32,250
To Profit and loss A/c 1,125 375 750 By General Reserve 9,000 3,000 6,000

(Loss)
To Realisation A/c 9,000 3,000 6,000 By Realisation A/c 18,000 11,250
(Loss on realisation)
To Realisation A/c 30,000 7,800 By Kadam’s 10,125
Capital A/c
To Chavan’s 10,125 3,375 By Shinde’s 3,375
Capital A/c Capital A/c
To Bank A/c 12,750 31,950
63,000 46,500 19,500 63,000 46,500 19,500

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