Page 242 - VIRANSH COACHING CLASSES

Solution In the books of Shubhangi, Mahisha and Shital
Dr. Realisation Account Cr.
Particulars Amount Amount Particulars Amount Amount
(`) (`) (`) (`)
To Sundry Assets A/c By Sundry Liabilities A/c
Machinery 62,500 Creditors 37,500
Stock 37,500 Bills payable 12,500 50,000
Debtors 27,500 By R. D. D. A/c 2,500
Bill Receivable 22,500 1,50,000 By Bank A/c
To Bank A/c Stock 31,250
Creditors 36,750 Machinery 37,500
Bills Payable 12,500 49,250 Debtors 21,250
To Bank A/c Bill Receivable 18,000 1,08,000
Realisation Expenses 6,250 By Partner’s Capital A/c
(Loss transferred to)
Shubhangi 15,000
Manisha 15,000

Shital 15,000 45,000

2,05,500 2,05,500

Dr. Partners’ Capital Account Cr.
Particulars Shu- Man- Shital Particulars Shu- Man- Shital
bahngi isha (`) bahn- isha (`)
(`) (`) gi (`) (`)
To Balance b/d 12,500 By Balance b/d 62,500 37,500
To Realisation A/c By General
(Loss on realisation) 15,000 15,000 15,000 Reserve 7,500 7,500 7,500
To Shital’s By Bank A/c 10,000
Capital A/c 5,000 5,000
To Bank A/c 50,000 25,000 By Shubhangi’s
Capital A/c 5,000
By Manisha’s
Capital A/c 5,000
70,000 45,000 27,500 70,000 45,000 27,500

Dr. Bank Account Cr.
Particulars Amount ` Particulars Amount `
To Balance b/d 12,500 By Realisation A/c 49,250
To Realisation A/c 1,08,000 By Realisation A/c 6,250
To Shital’s Capital A/c 10,000 By Shubhangi’s Capital A/c 50,000
By Manisha’s Capital A/c 25,000
1,30,500 1,30,500

233