Q1.

REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Freehold Property A/c 8,000 By Sundry Creditors A/c 2,000

To Investments A/c 2,000 By X's Capital A/c (Investments) 1,900
To Book Debts A/c 1,000 By Bank A/c (Assets Realised) :
To Stock A/c 1,500 Freehold Property 9,000
To Bank A/c (Creditors) 1,900 Book Debts 900
To Bank A/c (Expenses) 200 Stock 1,400 11,300
To Profit Transfer to :
X's Capital A/c 200
Y's Capital A/c 200
Z's Capital A/c 200 600
15,200 15,200

PARTNER'S CAPITAL ACCOUNT

Particulars X Y Z Particulars X Y Z
To Realisation A/c (Investment) 1,900 – – By Balance b/d 5,000 4,000 3,000
By Profit & Loss A/c 500 500 500
To Bank A/c (Final Payment) 3,800 4,700 3,700 By Realisation A/c (Profit) 200 200 200
5,700 4,700 3,700 5,700 4,700 3,700

BANK ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 3,000 By Realisation A/c (Creditors) 1,900
To Realisation A/c (Assets Realised) 11,300 By Realisation A/c (Expenses on Realisation) 200
By X's Capital A/c 3,800
By Y's Capital A/c 4,700
By Z's Capital A/c 3,700
14,300 14,300

Q2. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Sundry Assets A/c 1,30,000 By Creditors A/c 80,000

To Mohan's Capital A/c (Creditors) 75,000 By Rohan's Capital (Sundry Assets) 65,000
To Sohan's Capital A/c (Expenses) 5,000 By Loss Transfer to :
Mohan's Capital A/c 26,000
Sohan's Capital A/c 26,000
Rohan's Capital A/c 13,000 65,000
2,10,000 2,10,000

PARTNER'S CAPITAL ACCOUNT

Particulars Mohan Sohan Rohan Particulars Mohan Sohan Rohan

To Balance b/d — — 23,000 By Balance b/d 75,000 5,000 —
To Realisation A/c — — 65,000 By Realisation A/c (Creditors) 75,000 — —
(Sundry Assets) By RealisationA/c (Expenses) — 5,000 —
To Realisation A/c (Loss) 26,000 26,000 13,000 By Cash A/c — 16,000 1,01,000
To Cash A/c 1,24,000 — — (Amount brought in)
(Final Payment)
1,50,000 26,000 1,01,000 1,50,000 26,000 1,01,000

CASH ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 7,000 By Mohan's Capital A/c 1,24,000

To Sohan's Capital A/c 16,000
To Rohan's Capital A/c 1,01,000
1,24,000 1,24,000

1 ( (1)
Q3. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Stock A/c 8,000 By Accounts Payable A/c 30,200

To Accounts Receivable A/c 10,050 By X's Capital A/c (Stock) 7,200
To Goodwill A/c 31,300 By Y's Capital A/c (Account Receivable) 9,447
To Office Equipment A/c 1,850 By Cash A/c :
To Building A/c 11,750 Office Equipment 900
To Cash A/c (Accounts Payable) 28,690 Building 50,000 50,900
To X's Capital A/c (Expenses) 800
To Profit transfer to :
X's Capital A/c 2,653
Y's Capital A/c 2,654 5,307
97,747 97,747

PARTNER'S CAPITAL ACCOUNT

Particulars X Y Particulars X Y

To Realisation A/c (Stock) 7,200 – By Balance b/d 15,000 15,000

To Realisation A/c (A/c Receivable) – 9,447 By General Reserve A/c 3,000 3,000
To Cash A/c (Final Payment) 14,253 11,207 By Realisation A/c (Expenses) 800 —
By Realisation A/c (Profit) 2,653 2,654
21,453 20,654 21,453 20,654

CASH ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 3,250 By Realisation A/c (Accounts Payable) 28,690

To Realisation A/c (Assets Realised) 50,900 By X's Capital A/c 14,253
By Y's Capital A/c 11,207
54,150 54,150
Note : Goodwill being an intangible asset has been treated as valueless.

Q4. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Investments A/c 2,080 By Creditors A/c 528

To Debtors A/c 1,960 By Bank Loan A/c 1,000
To Stock A/c 875 By Cash A/c (Assets Sold) 6,900
To Furniture A/c 250 By Y's Capital A/c (Investments) 2,200
To Building A/c 4,500 By Loss Transfer to :
To Y's Capital A/c (Bank Loan) 1,000 X's Capital 390
To Cash A/c (Expenses) 110 Y's Capital 260 650
To Cash A/c (Creditors) 503
11,278 11,278

PARTNER'S CAPITAL ACCOUNT

Particulars X Y Particulars X Y

To Realisation A/c (Investment) — 2,200 By Balance b/d 6,000 2,000

To Realisation A/c (Loss) 390 260 By Reserve A/c 300 200
To Cash A/c (Final Payment) 5,910 740 By Realisation A/c (Bank Loan) — 1,000
6,300 3,200 6,300 3,200

CASH ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 363 By Realisation A/c (Expenses) 110

To Realisation A/c (Assets Sold) 6,900 By Realisation A/c (Creditors) 503
By X's Capital A/c 5,910
By Y's Capital A/c 740
7,263 7,263

2 ( (2)
Q5. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Land & Building A/c 40,000 By Sundry Creditors A/c 20,000

To Furniture & Fittings A/c 28,000 By BIlls Payable A/c 40,000
To Truck A/c 20,000 By Cash A/c : (Assets Realised)
To Stock A/c 10,000 Debtors 9,000
To Debtors A/c 12,000 Furniture 21,000
To Ramesh's Capital A/c (Creditors) 20,000 Stock 6,000
To Suresh's Capital A/c (Bills Payable) 40,000 Truck 32,000
To Ramesh's Capital A/c (Expenses) 1,200 Land & Buildings 60,000 1,28,000
To Profit Transfer to :
Ramesh's Capital A/c 8,400
Suresh's Capital A/c 8,400 16,800
1,88,000 1,88,000

PARTNER'S CAPITAL ACCOUNT

Particulars Ramesh Suresh Particulars Ramesh Suresh

By Balance b/d 30,000 30,000
By Realisation A/c (Creditors) 20,000 —
By Realisation A/c (Bills Payable) — 40,000
By Realisation A/c (Expenses) 1,200 —
To Cash A/c (Final Payment) 59,600 78,400 By Realisation A/c (Profit) 8,400 8,400
59,600 78,400 59,600 78,400

CASH ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 10,000 By Ramesh's Capital A/c 59,600

To Realisation A/c (Assets) 1,28,000 By Suresh's Capital A/c 78,400
1,38,000 1,38,000

Q6. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Building A/c 1,00,000 By Creditors A/c 25,000

To Plant A/c 40,000 By Outstanding Expenses A/c 5,000
To Stock A/c 30,000 By E's Capital (Stock) 27,000
To Debtors A/c 45,000 By F's Capital (Debtors) 40,000
To F's Capital (Creditors) 25,000 By Cash A/c (Assets Realised)
To E's Capital (Outstanding Expenses) 5,000 Plant 30,000
To Cash A/c (Expenses) 7,500 Building 80,000 1,10,000
By Loss Transfer to :
E's Capital A/c 27,300
F's Capital A/c 18,200 45,500
2,52,500 2,52,500

PARTNER'S CAPITAL ACCOUNT

Particulars E F Particulars E F
To Realisation A/c (Stock) 27,000 — By Balance b/d 90,000 1,20,000
To Realisation A/c (Debtors) — 40,000 By Realisation A/c (Creditors) — 25,000
To Realisation A/c (Loss) 27,300 18,200 By Realisation (Expenses O/s) 5,000 —
To Cash A/c (Final Payment) 40,700 86,800
95,000 1,45,000 95,000 1,45,000

CASH ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 25,000 By Realisation A/c (Expenses) 7,500

To Realisation A/c (Assets) 1,10,000 By A's Capital A/c 40,700
By B's Capital A/c 86,800
1,35,000 1,35,000

3 ( (3)
Q7. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Stock A/c 25,000 By Sundry Creditors A/c 21,500
To Debtors A/c 18,000 By Loan A/c 21,500
To Furniture A/c 5,000 By Cash A/c : (Assets Realised)
To Machinery A/c 8,000 Fixed Assets 2,000
To Cash A/c (Expenses) 600 Stock & Debtors 33,000 35,000
To Cash A/c : (Liabilities paid) By Loss Transfer to :
Sundry Creditors 21,500 Sharma's Capital 10,800
Loan 21,500 43,000 Verma's Capital 7,200
Gupta's Capital 3,600 21,600
99,600 99,600
PARTNER'S CAPITAL ACCOUNT
Particulars Sharma Verma Gupta Particulars Sharma Verma Gupta
To Realisation A/c 10,800 7,200 3,600 By Balance b/d 6,000 5,000 3,000
(Loss) By Cash A/c 4,800 2,200 600
(Amount Brought in)
10,800 7,200 3,600 10,800 7,200 3,600
CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 1,000 By Realisation A/c (Expenses) 600
To Realisation (Assets Realised) 35,000 By Realisation A/c (Liabilities paid) 43,000
To Sharma's Capital A/c 4,800
To Verma's Capital A/c 2,200
To Gupta's Capital A/c 600
43,600 43,600

Q8. REALISATION ACCOUNT

Particulars Amount Particulars Amount
To Stock A/c 19,800 By Provision for Bad Debts A/c 1,000
To Debtors A/c 15,000 By Creditors A/c 17,000
To Typewriter A/c 4,000 By Bills Payable A/c 12,000
To Furniture A/c 10,000 By Vinod's Capital A/c (Typewriter) 5,000
To Machinery A/c 33,000 By Bank A/c : (Assets Realised)
To Bank A/c (Expenses) 2,000 Stock 17,500
To Bank A/c : (Liabilities Paid) Debtors 14,500
Creditors 17,000 Furniture 6,800
Bills Payable 12,000 29,000 Machinery 30,300 69,100
By Loss Transfer to :
Vindo's Capital A/c 4,350
Vijay's Capital A/c 2,900
Venkat's Capital A/c 1,450 8,700
1,12,800 1,12,800
PARTNER'S CAPITAL ACCOUNT
Particulars Vinod Vijay Venkat Particulars Vinod Vijay Venkat
To Realisation A/c (Loss) 4,350 2,900 1,450 By Balance b/d 25,000 11,000 8,000
To Realisation A/c (Typewriter) 5,000 — — By General Reserve A/c 3,000 2,000 1,000
To Bank A/c (Final Payment) 18,650 10,100 7,550
28,000 13,000 9,000 28,000 13,000 9,000
BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 3,500 By Vinod's Loan A/c 5,300
To Realisation A/c (Assets) 69,100 By Realisation (Expenses) 2,000
By Realisation (Liabilities paid) 29,000
By Vinod's Capital A/c 18,650
By Vijay's Capital A/c 10,100
By Venkat's Capital A/c 7,550
72,600 72,600

4 ( (4)
Q9. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Freehold Property A/c 16,000 By Sundry Creditors A/c 2,000
To Investments A/c 4,000 By Dipali's Capital A/c (Investment) 3,800
To Sundry Debtors A/c 2,000 By Bank A/c (Assets Realised) :
To Stock A/c 3,000 Freehold Property 18,000
To Bank A/c (Creditors) 1,900 Sundry Debtors 1,800
To Bank A/c (Expenses) 400 Stock 2,800 22,600
To Profit Transfer to : By Bank A/c (Unrecorded Typewriter) 1,000
Dipali's Capital A/c 1,260
Rajshree's Capital A/c 840 2,100
29,400 29,400

PARTNER'S CAPITAL ACCOUNT

Particulars Dipali Rajshree Particulars Dipali Rajshree

To Realisation A/c (Investment) 3,800 – By Balance b/d 17,500 10,000

To Bank A/c (Final Payment) 15,860 11,440 By Profit & Loss A/c 900 600
By Realisation A/c (Profit) 1,260 840
19,660 11,440 19,660 11,440

BANK ACCOUNT
Particulars Amount Particulars Amount

To Balance b/d 2,000 By Realisation A/c (Creditors) 1,900

To Cash A/c 4,000 By Realisation A/c (Expenses) 400
To Realisation A/c (Assets Realised) 22,600 By Dipali's Capital A/c 15,860
To Realisation A/c (Typewriter Realised) 1,000 By Rajshree's Capital A/c 11,440
29,600 29,600
Q10. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Buildings 40,000 By Provision for Bad Debts 2,000
To Plant and Machinery 40,000 By Bills Payable 40,000
To Stock 19,000 By Loan from Bank 30,000
To Sundry Debtors 42,000 By Bank A/c (Assets Realised)
To Bank A/c (Bills Payable) 32,000 Stock 23,400
To Bank A/c (Bank Loan) 30,000 Debtors 21,000
To Bank A/c (Expenses) 1,250 Fixed Assets 72,000 1,16,400
To Bank A/c (Outstanding Bill) 800 By Loss Transfer to :
P's Capital A/c 9,250
Q's Capital A/c 5,550
R's Capital A/c 1,850 16,650
2,05,050 2,05,050
PARTNER'S CAPITAL ACCOUNT

Particulars P Q R Particulars P Q R
To Realisation A/c (Loss) 9,250 5,550 1,850 By Balance b/d 44,000 36,000 20,000
To Bank A/c (Final Payment) 39,750 33,450 19,150 By Reserve Fund A/c 5,000 3,000 1,000
49,000 39,000 21,000 49,000 39,000 21,000
BANK ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 40,000 By Realisation A/c (Bills Payable) 32,000
To Realisation A/c 1,16,400 By Realisation A/c (Bank Loans ) 30,000
(Assets Realised) By Realisation A/c (Expenses) 1,250
By Realisation A/c (Outstanding Bill) 800
By P's Capital A/c 39,750
By Q's Capital A/c 33,450
By R's Capital A/c 19,150
1,56,400 1,56,400

5 ( (5)
Q11. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Plant A/c 40,000 By Provision for Doubtful Debts A/c 1,000
To Patents A/c 6,000 By Creditors A/c 20,000
To Stock A/c 25,000 By A's Capital A/c (Patents) 5,000
To Debtors 19,000 By Cash A/c (Assets sold) :
To Cash A/c (Creditors paid) 19,000 Goodwill 15,000
To Cash A/c (expenses) 3,500 Plant 30,000
Stock 22,000
Debtors 18,500 85,500
By Loss Transfer to :
A's Capital A/c 600
B's Capital A/c 400 1,000
1,12,500 1,12,500
PARTNER'S CAPITAL ACCOUNT
Particulars A B Particulars A B
To Realisation A/c (Patents) 5,000 – By Balance b/d 33,000 27,000
To Realisation A/c (Loss) 600 400 By General Reserve A/c 6,000 4,000
To Cash A/c (Final Payment) 33,400 30,600
39,000 31,000 39,000 31,000
CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 11,000 By A's Loan A/c 10,000
To Realisation A/c (Assets sold) 85,500 By Realisation A/c (creditors paid) 19,000
By Realisation A/c (expenses) 3,500
By A's Capital A/c 33,400
By B's Capital A/c 30,600
96,500 96,500
Q12. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Debtors A/c 12,500 By Creditors A/c 12,000
To Bills Receiveable A/c 1,500 By Bills Payable A/c 2,000
To Stock A/c 21,000 By Bank Loan A/c 12,000
To Furniture A/c 2,000 By Cash A/c (Assets Realised) :
To Goodwill A/c 1,500 Goodwill 7,500
To Cash A/c (Liabilities paid) : Bills Receiveable 1,200
Bills Payable 1,900 Debtors 11,250
Creditors 11,400 13,300 Stock 18,000 37,950
To Cash A/c (Bank Loan) 12,600 By R's Capital A/c (Furniture) 2,000
To Profit transfer to :
R's Capital A/c 620
S's Capital A/c 620
T's Capital A/c 310 1,550
65,950 65,950
PARTNER'S CAPITAL ACCOUNT
Particulars R S T Particulars R S T
To Realisation A/c (Furniture) 2,000 – – By Balance b/d 6,000 4,000 3,000
To Cash A/c (Final Payment) 4,620 4,620 3,310 By Realisation A/c (Profit) 620 620 310
6,620 4,620 3,310 6,620 4,620 3,310
CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 500 By Realisation A/c (Liabilities paid) 13,300
To Realisation A/c (Assets Realised) 37,950 By Realisation A/c (Bank Loan) 12,600
R's Capital A/c 4,620
S's Capital A/c 4,620
T's Capital A/c 3,310
38,450 38,450

6 ( (6)
Q13. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Stock A/c 57,400 By Provision For D/D A/c 3,000
To Debtors A/c 57,000 By Creditors A/c 40,200
To Plant & Machinery A/c 1,31,100 By Bills Payable A/c 16,800
To Bank A/c (Liabilities Paid) : By Bank A/c(Assets Realised) :
Creditors 40,200 Computer 15,000
Bills Payable 16,800 57,000 Stock 47,000
To Bank A/c (Expenses) 400 Goodwill 12,000
Debtors 34,200
Machinery 90,000 1,98,200
By Loss Transfer to :
A's Capital A/c 22,350
B's Capital A/c 14,900
C's Capital A/c 7,450 44,700
3,02,900 3,02,900
PARTNER'S CAPITAL ACCOUNT
Particulars A B C Particulars A B C
To Realisation A/c (Loss) 22,350 14,900 7,450 By Balance b/d 80,000 12,000 40,000
To Bank A/c (Final Payment) 62,150 100 34,050 By General Reserve A/c 4,500 3,000 1,500
84,500 15,000 41,500 84,500 15,000 41,500
BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 12,500 By A's Loan A/c 57,000
To Realisation A/c (Assets) 1,98,200 By Realisation A/c (Liabilities Paid) 57,000
By Realisation A/c (Expenses) 400
By A's Capital A/c 62,150
By B's Capital A/c 100
By C's Capital A/c 34,050
2,10,700 2,10,700
Q14. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Stock A/c 6,000 By Creditors A/c 38,000
To Debtors A/c 19,000 By Mrs. A's Loan A/c 10,000
To Furniture A/c 4,000 By A's Capital A/c (Investments) 8,000
To Plant A/c 28,000 By Bank A/c : (Assets Realised)
To Investment A/c 10,000 Stock 5,000
To A's Capital A/c (Mrs. A's Loan) 10,000 Debtors 18,500
To Bank A/c (Expenses) 1,600 Furniture 4,500
To Bank A/c (Creditors) 37,000 Plant 25,000 53,000
By Loss Transfer to :
A's Capital A/c 3,960
B's Capital A/c 2,640 6,600
1,15,600 1,15,600
PARTNER'S CAPITAL ACCOUNT
Particulars A B Particulars A B
To Profit & Loss A/c 4,500 3,000 By Balance b/d 10,000 8,000
To Realisation A/c (Loss) 3,960 2,640 By Reserve A/c 3,000 2,000
To Realisation (Investment) 8,000 — By Realisation A/c 10,000 —
To Bank A/c (Final Payment) 6,540 4,360 (Mrs. A's Loan)
23,000 10,000 23,000 10,000
BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 11,500 By B's Loan A/c 15,000
To Realisation A/c (Assets) 53,000 By Realisation A/c (Expenses) 1,600
By Realisation A/c (Creditors) 37,000
By A's Capital A/c 6,540
By B's Capital A/c 4,360
64,500 64,500

7 ( (7)
Q15. JOURNAL
Date Particulars Debit Credit
(i) Realisation A/c ... Dr. 85,000
To Plant & Machinery A/c 40,000
To Patents A/c 5,000
To Stock A/c 15,000
To Sundry Debtors A/c 16,000
To Leasehold Premises A/c 9,000
(ii) Provision for Doubtful Debts A/c ... Dr. 1,000
Sundry Creditors A/c ... Dr. 11,000
Mrs. C's Loan ... Dr. 6,000
To Realisation A/c 18,000
(iii) Realisation A/c ... Dr. 6,000
To Bank A/c 6,000
Realisation A/c ... Dr. 100
To Bank A/c 100
(iv) Realisation A/c ... Dr. 10,500
To A's Capital A/c 10,500
(v) A's Capital A/c ... Dr. 1,01,500
To Realisation A/c 1,01,500
(vi) Realisation A/c ... Dr. 17,900
To A's Capital A/c 7,160
To B's Capital A/c 7,160
To C's Capital A/c 3,580
(vii) Bank A/c ... Dr. 52,240
To A's Capital A/c 52,240
(viii) B's Capital A/c ... Dr. 33,760
C's Capital A/c ... Dr. 19,380
To Bank A/c 53,140

WORKINGS : REALISATION ACCOUNT

Particulars Amount Particulars Amount
To Plant & Machinery A/c 40,000 By Provision for Doubtful Debts A/c 1,000
To Patents A/c 5,000 By Sundry Creditors A/c 11,000
To Stock A/c 15,000 By Mrs. C's Loan A/c 6,000
To Sundry Debtors A/c 16,000 By A's Capital A/c : (Assets Taken)
To Leasehold Premises A/c 9,000 Plant & Machinery 35,000
To Bank A/c (Mrs. C's Loan) 6,000 Patents 8,000
To A's Capital A/c (Creditors) 10,500 Stock 14,000
To Bank A/c (Expenses) 100 Sundry Debtors 14,500
To Profit Transfer to : Leasehold Premises 20,000
A's Capital 7,160 Goodwill 10,000 1,01,500
B's Capital 7,160
C's Capital 3,580 17,900
1,19,500 1,19,500
PARTNER'S CAPITAL ACCOUNT
Particulars A B C Particulars A B C
To Realisation A/c 1,01,500 – – By Balance b/d 30,000 25,000 15,000
(Assets) By General Reserve A/c 1,600 1,600 800
To Bank A/c — 33,760 19,380 By Realisation A/c (Profit) 7,160 7,160 3,580
(Final Payment) By Realisation A/c (Creditors) 10,500 — —
By Bank A/c (Amount Brought in) 52,240 — —
1,01,500 33,760 19,380 1,01,500 33,760 19,380
BANK ACCOUNT
Particulars Amount Particulars Amount
By Balance b/d 7,000 By Realisation (Mrs. C's Loan) 6,000
By A's Capital A/c 52,240 By Realisation (Expenses) 100
By B's Capital A/c 33,760
By C's Capital A/c 19,380
59,240 59,240

8 ( (8)
Q16. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Land & Building A/c 30,000 By Provision for Bad Debts A/c 2,450
To Motor Vehicles A/c 18,300 By Creditors A/c 97,500
To Stock A/c 72,800 By Cash A/c : (Assets Realised)
To Debtors A/c 1,13,200 Motor Vehicles 16,950
To Cash A/c (Creditors) 95,800 Stock 77,600
To Cash A/c (Expenses) 1,250 Debtors 1,13,200 2,07,750
To Profit Transfer to : By A's Capital A/c (Land & Building) 43,500
A's Capital A/c 11,910
B's Capital A/c 7,940 19,850
3,51,200 3,51,200
PARTNER'S CAPITAL ACCOUNT
Particulars A B Particulars A B
To Realisation A/c (Land & Building) 43,500 – By Balance b/d 85,000 63,000
To Cash A/c (Final Payment) 53,410 70,940 By Realisation A/c (Profit) 11,910 7,940
96,910 70,940 96,910 70,940
CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 3,650 By Realisation A/c (Creditors) 95,800
To Bank A/c 10,000 By Realisation A/c (Expenses) 1,250
To Realisation A/c (Assets Realised) 2,07,750 By A's Capital A/c 53,410
By B's Capital A/c 70,940
2,21,400 2,21,400
SUNDRY CREDITORS ACCOUNT
Particulars Amount Particulars Amount
To Realisation A/c (Balance Transfer) 97,500 By Balance b/d 97,500
97,500 97,500
Q17. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Stock A/c 19,800 By Provision for Bad Debts A/c 1,000
To Debtors A/c 19,000 By Sundry Creditors A/c 15,400
To Plant & Machinery A/c 43,700 By Bills Payable A/c 3,600
To Bank A/c : (Payment of Liabilities) By Bank A/c : (Assets Realised)
Sundry Creditors 15,400 Furniture 5,000
Bills Payable 3,600 19,000 Goodwill 4,000
To Bank A/c (Dishonour Bill) 2,000 Stock 15,000
Bank A/c (Expenses) 800 Debtors 11,400
Machinery 30,000 65,400
By Loss Transfer to :
Ram's Capital 9,450
Mohan's Capital 6,300
Krishen's Capital 3,150 18,900
1,04,300 1,04,300
PARTNER'S CAPITAL ACCOUNT
Particulars Ram Mohan Krishen Particulars Ram Mohan Krishen
To Realisation A/c 9,450 6,300 3,150 By Balance b/d 23,000 4,000 21,000
(Loss) By Reserve A/c 1,500 1,000 500
To Bank A/c 15,050 — 18,350 By Bank A/c — 1,300 —
(Final Payment ) (Amount Brought in)
24,500 6,300 21,500 24,500 6,300 21,500
BANK ACCOUNT
Particulars Amount Particulars Amount
By Balance b/d 7,500 By Ram's Loan A/c 19,000
By Realisation A/c (Assets Realised) 65,400 By Realisation A/c (Liabilities paid) 19,000
By Mohan's Capital A/c 1,300 By Realisation A/c (Dishonour Bill) 2,000
By Realisation A/c (Expenses) 800
By Ram's Capital A/c 15,050
By Krishen's Capital A/c 18,350
74,200 74,200

9 ( (9)
Q18. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Stock A/c 16,000 By Provision for Doubtful Debts A/c 500
To Debtors A/c 10,000 By Sundry Creditors A/c 20,300
To Investment A/c 11,000 By Investment Fluctuation Reserve A/c 11,000
To Premises A/c 30,300 By Cash A/c (Assets sold) 65,000
To Cash A/c (Payment of Discounted Bill) 1,000 By Cash A/c (Investment Sold) 11,300
To Cash A/c (Sundry Creditors) 19,500 By Cash A/c (Recovered from Discounted Bill) 500
To Cash A/c (Expenses) 3,000
To Profit Transfer to :
P's Capital 7,120
Q's Capital 7,120
R's Capital 3,560 17,800
1,08,600 1,08,600

PARTNER'S CAPITAL ACCOUNT

Particulars P Q R Particulars P Q R

By Balance b/d 17,000 17,000 4,000

To Cash A/c 26,920 26,920 8,960 By Reserve A/c 2,800 2,800 1,400
(Final Payment) By Realisation A/c (Profit) 7,120 7,120 3,560
26,920 26,920 8,960 26,920 26,920 8,960
CASH ACCOUNT

Particulars Amount Particulars Amount

To Bank A/c 9,500 By Realisation A/c (Payment of Discounted Bill) 1,000
To Realisation A/c (Assets sold) 65,000 By Realisation A/c (Sundry Creditors) 19,500
To Realisation A/c (Investment) 11,300 By Realisation A/c (Expenses) 3,000
To Realisation A/c 500 By P's Capital A/c 26,920
(Recovery from Discounted Bill ) By Q's Capital A/c 26,920
By R's Capital A/c 8,960
86,300 86,300

Q19. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Sundry Debtors A/c 26,000 By Provision for Bad Debts A/c 2,000
To Investments A/c 40,000 By Bank Overdraft A/c 30,000
To Stock A/c 10,000 By Investment Fluctuation Fund A/c 20,000
To Furniture A/c 10,000 By A's Capital A/c (Investment) 35,000
To Buildings A/c 60,000 By Bank A/c : (Assets Realised)
To Bank A/c (Compensation to Employees) 10,000 Sundry Debtors 26,000
To Bank A/c (Bank Overdraft) 30,000 Stock 8,500
To Profit Transfer to : Furniture 8,000
A's Capital A/c 29,000 Buildings 1,00,000 1,42,500
B's Capital A/c 14,500 43,500
2,29,500 2,29,500

PARTNER'S CAPITAL ACCOUNT

Particulars A B Particulars A B
To Balance b/d — 30,000 By Balance b/d 50,000 —
To Realisation A/c (Investment) 35,000 — By General Reserve A/c 37,333 18,667
To Bank A/c (Final Payment) 81,333 3,167 By Realisation A/c (Profit) 29,000 14,500
1,16,333 33,167 1,16,333 33,167
BANK ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 10,000 By A's Loan A/c 34,000
To Cash A/c 6,000 By Realisation (Compensation to Employee) 10,000
To Realisation (Assets) 1,42,500 By Realisation (Bank Overdraft) 30,000
By A's Capital A/c 81,333
By B's Capital A/c 3,167
1,58,500 1,58,500

10(
10((10)
Q20. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Stock A/c 75,000 By Provision for D/D A/c 6,000
To Book Debts A/c 66,000 By Creditors A/c 75,000
To Plant & Machinery A/c 45,000 By Bills Payable A/c 30,000
To Land & Building A/c 48,000 By Mr. Chowdhary's Loan A/c 15,000
To Rita Chowdhary's Capital A/c By Rita Chowdhary's Capital A/c (Stock) 30,000
(Mr. Chowdhary's loan) 15,000 By Bank A/c (Assets sold) :
To Bank A/c : (Payment of Liabilities) Book Debts 54,000
Creditors 67,500 Stock Balance 48,750 1,02,750
Bills Payable 30,000 97,500 By Bank A/c (Assets Realised) :
To Bank A/c (Expenses) 5,250 Plant & Machinery 75,000
To Profit Transfer to : Land & Building 1,20,000 1,95,000
Rita's Capital A/c 66,000 By Rita Chowdhary's Capital A/c (Goodwill) 30,000
Sobha's Capital A/c 66,000 1,32,000
4,83,750 4,83,750
PARTNER'S CAPITAL ACCOUNT
Particulars Rita Sobha Particulars Rita Sobha
To Realisation A/c (Stock) 30,000 – By Balance b/d 90,000 30,000
To Realisation A/c (Goodwill) 30,000 – By General Reserve A/c 12,000 12,000
By Realisation A/c (Profit) 66,000 66,000
To Bank A/c (Final Payment) 1,23,000 1,08,000 By Realisation A/c
(Mr. Chowdhary's Loan) 15,000 –
1,83,000 1,08,000 1,83,000 1,08,000
BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 30,000 By Mrs. Rita Chowdhary's Capital A/c 1,23,000
To Cash A/c 6,000 By Miss. Sobha's Capital A/c 1,08,000
To Realisation A/c (Assets Realised) 1,02,750 By Realisation A/c (Liabilities Paid) 97,500
To Realisation A/c (Assets Realised) 1,95,000 By Realisation A/c (Expenses) 5,250
3,33,750 3,33,750
Q21. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Debtors A/c 62,000 By Creditors A/c 34,000
To Stock A/c 37,000 By Cash A/c : (Assets Realised)
To Tools A/c 8,000 Stock 40,000
To Car A/c 12,000 Tools 5,000
To Machinery A/c 60,000 Machinery 78,000
To Buildings A/c 1,00,000 Building 84,000
To Cash A/c (Creditors) 33,280 Car 25,000
To Profit Transfer to : Goodwill 60,000
X's Capital A/c 37,360 Debtors 59,000 3,51,000
Y's Capital A/c 24,907 By X's Capital A/c (Unrecorded Assets) 2,000
Z's Capital A/c 12,453 74,720
3,87,000 3,87,000
PARTNER'S CAPITAL ACCOUNT
Particulars X Y Z Particulars X Y Z
To Realisation A/c 2,000 — — By Balance b/d 1,20,000 90,000 60,000
(Unrecorded Assets) By Realisation A/c (Profit) 37,360 24,907 12,453
To Cash A/c 1,55,360 1,14,907 72,453
(Final Payment)
1,57,360 1,14,907 72,453 1,57,360 1,14,907 72,453
CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 25,000 By Realisation A/c (Creditors) 33,280
To Realisation A/c (Assets) 3,51,000 By X's Capital A/c 1,55,360
By Y's Capital A/c 1,14,907
By Z's Capital A/c 72,453
3,76,000 3,76,000

11(
11((11)
Q22. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Machinery A/c 40,500 By Provision for D/D A/c 600

To Stock in Trade A/c 7,550 By Mrs. A's loan A/c 10,000
To Investments A/c 20,830 By Creditors A/c 18,500
To Furniture A/c 14,000 By Depreciation Reserve on Furniture A/c 14,000
To Debtors A/c 9,300 By Investment Fluctuating Fund 6,000
To A's Capital A/c (A's wife loan) 10,000 By Bank A/c (Furniture) 15,000
To Bank A/c (Expenses) 600 By A's Capital A/c (Investments) 17,500
To Bank A/c : By B's Capital A/c (Assets taken) :
Creditors 18,500 Stock 7,000
(–) Investment (Unrecorded) 3,000 15,500 Debtors 4,000 11,000
To Profit Transfer to : By Bank A/c (Assets realised) :
A's Capital A/c 14,235 Machinery 52,000
B's Capital A/c 9,490 Debtors 2,150 54,150
C's Capital A/c 4,745 28,470
1,46,750 1,46,750

PARTNER'S CAPITAL ACCOUNT

Particulars A B C Particulars A B C

To C's Current A/c – – 11,500 By Balance b/d 40,000 20,000 –

To Realisation A/c 17,500 – – By Realisation A/c (Profit) 14,235 9,490 4,745
(Investments) By Realisation A/c
To Realisation A/c – 11,000 – (A's wife loan) 10,000 – –
(Assets Taken) By Bank A/c – – 6,755
To Bank A/c 46,735 18,490 – (Amount brought in)
(Final Payment)
64,235 29,490 11,500 64,235 29,490 11,500

BANK ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 5,420 By Realisation A/c (Expenses) 600

To Realisation (Assets) 54,150 By Realisation A/c (Creditors) 15,500
To Realisation (Furniture) 15,000 By A's Capital A/c 46,735
To C's Capital A/c 6,755 By B's Capital A/c 18,490
81,325 81,325

Q23. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Stock A/c 25,000 By Provision for Bad Debts A/c 1,000

To Debtors A/c 40,500 By Sundry Creditors A/c 75,000
To Bills Receivable A/c 15,000 By Bills Payable A/c 30,000
To Investments A/c 60,000 By Mrs. A's Loan A/c 25,000
To Plant & Machinery A/c 80,000 By Bank Loan A/c 50,000
To Building A/c 61,000 By A's Capital A/c (Investment) 27,000
To A's Capital A/c (Mrs. A's Loan) 25,000 By Cash A/c : (Assets Sold)
To B's Capital A/c (Bills Payable) 27,000 Stock 22,500
To Cash A/c (Sundry Creditors) 67,500 Investment 27,000 49,500
To B's Capital A/c (Expenses) 1,700 By B's Capital A/c (Goodwill) 40,000
To Cash A/c (Bank Loan) 50,000 By Cash A/c : (Assets Realised)
To Profit Transfer to : Debtors 35,000
A's Capital A/c 45,360 Bills Receivable 13,500
B's Capital A/c 30,240 75,600 Plant & Machinery 38,900
Buildings 1,20,000 2,07,400
By A's Capital A/c (Unrecorded Car) 23,400
5,28,300 5,28,300

12(
12((12)
 PARTNER'S CAPITAL ACCOUNT

Particulars A B Particulars A B
To Realisation A/c (Investment) 27,000 — By Balance b/d 30,000 40,000
To Realisation A/c (Goodwill) — 40,000 By Workmen's Compensation Fund A/c 4,800 3,200
To Realisation (Car) 23,400 — By Reserve Fund A/c 16,200 10,800
By Realisation A/c (Profit) 45,360 30,240
By Realisation A/c (Mrs. A's Loan) 25,000 —
By Realisation A/c (Bills Payable) — 27,000
To Cash A/c (Final Payment) 70,960 72,940 By Realisation A/c (Expenses) — 1,700
1,21,360 1,12,940 1,21,360 1,12,940

CASH & BANK ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 4,500 By Realisation A/c (Sundry Creditors) 67,500

To Realisation A/c (Stock & Investment) 49,500 By Realisation A/c (Bank Loan) 50,000
To Realisation (Assets Realised) 2,07,400 By A's Capital A/c 70,960
By B's Capital A/c 72,940
2,61,400 2,61,400

Q24. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Bills Receiveable A/c 12,000 By Provision for Doubtful Debts A/c 4,000
To Stock A/c 25,000 By Bills Payable A/c 20,000
To Sundry Debtors A/c 40,000 By Creditors A/c 18,000
To Land & Building A/c 50,000 By Mrs. Vishnu's Loan A/c 20,000
To Furniture A/c 10,000 By Outstanding Salary A/c 5,000
To Typewritters A/c 5,000 By Investments Fluctuating Fund A/c 10,000
To Investment A/c 30,000 By Bank A/c (Assets Realised) :
To Bank A/c (Liabilities Paid) : Bills Receivable 11,400
Bills Payable 20,000 Debtors 40,000
Creditors 16,200 Stock 22,000
Mrs. Vishnu's Loan 20,000 Land & Building 70,000
Outstanding Salary 5,000 61,200 Furniture 7,500
To Bank A/c (Compensation to Employees) 20,000 Investment 35,400 1,86,300
To Profit Transfer to : By Vishnu's Capital A/c (Typewritters) 2,000
Vishnu's Capital A/c 6,050
Sanjiv's Capital A/c 3,630
Sudhir's Capital A/c 2,420 12,100
2,65,300 2,65,300

PARTNER'S CAPITAL ACCOUNT

Particulars Vishnu Sanjiv Sudhir Particulars Vishnu Sanjiv Sudhir

To Realisation A/c (Typewritter) 2,000 – – By Balance b/d 45,000 33,000 20,000
By Reserve A/c 7,500 4,500 3,000
To Bank A/c (Final Payment) 56,550 41,130 25,420 By Realisation A/c (Profit) 6,050 3,630 2,420
58,550 41,130 25,420 58,550 41,130 25,420

BANK ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 18,000 By Realisation A/c (Liabilities paid) 61,200
To Realisation A/c (Assets) 1,86,300 By Realisation A/c (Compensation) 20,000
By Vishnu's Capital A/c 56,550
By Sanjiv's Capital A/c 41,130
By Sudhir's Capital A/c 25,420
2,04,300 2,04,300

13(
13((13)
Q25. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Debtors 17,000 By Provision for Doubtful Debts 2,000
To Stock 15,000 By Sundry Creditors 8,000
To Investments 25,000 By Bank Overdraft 6,000
To Building 25,000 By X's Brother's Loan 8,000
To Goodwill 10,000 By Investment Fluctuation Fund 5,000
To X's Capital A/c (X's Brother's Loan) 8,000 By Bank A/c : (Assets Realised)
To Bank A/c : (Liabilities paid) Debtors 12,000
Creditors (3,000 + 3,000) 6,000 Investments 20,000
Bank Overdraft 6,000 12,000 Goodwill 6,000
To Bank A/c (Auctioneer's Commission) 1,000 Building 30,000
To Bank A/c : (Realisation Expenses) 2,000 Stock Balance 5,000 73,000
By Y's Capital A/c (Stock) 4,000
By Loss transferred to :
X's Capital A/c (4/5) 7,200
Y's Capital A/c (1/5) 1,800 9,000
1,15,000 1,15,000
PARTNER'S CAPITAL ACCOUNT
Particulars X Y Particulars X Y
To Profit and Loss A/c 8,000 2,000 By Balance b/d 50,000 40,000
To Realisation A/c (Stock) — 4,000 By Realisation A/c (X's Brother Loan) 8,000 —
To Realisation A/c (Loss) 7,200 1,800
To Bank A/c (Final Payment) 42,800 32,200
58,000 40,000 58,000 40,000
Y'S LOAN ACCOUNT
Particulars Amount Particulars Amount
To Bank A/c 3,000 By Balance b/d 3,000
3,000 3,000
BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 20,000 By Y's Loan A/c 3,000
To Realisation A/c (Assets realised) 73,000 By Realisation A/c (Liabilities paid off) 12,000
By Realisation A/c (Auctioneer's Commission) 1,000
By Realisation A/c (Expenses) 2,000
By X's Capital A/c (Final Payment) 42,800
By Y's Capital A/c (Final Payment) 32,200
93,000 93,000
Workings : Lets the book value of taken over part is = y
y – 20 y = 4,000
100
80 y = 4,000
100
y = 4,000 × 100
80
= 5,000
Q26. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Sundry Assets A/c 17,000 By Provision for Bad Debts A/c 1,200
To Debtors A/c 24,200 By Creditors A/c 6,000
To Stock A/c 7,800 By Loan A/c 1,500
To Fixture A/c 1,000 By C's Loan A/c (Computer + Gain) 3,800
To Computer 2,000 By A's Capital A/c (Assets Taken) :
To A's Capital A/c (Creditors) 6,000 Fixture A/c 800
To C's Capital A/c (Loan + Interest) 1,530 Debtors 17,200 18,000
To Cash A/c (Dissolution Expenses) 270 By B's Capital A/c (Assets Taken) :
Stock 7,000
Sundry Assets 7,200 14,200
By C's Capital A/c (Remaining Sundry Assets) 8,000
By Cash A/c (Remaining Debtors) 2,100
By Loss Transfer to :
A's Capital A/c 3,000
B's Capital A/c 1,000
C's Capital A/c 1,000 5,000
59,800 59,800

14(
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 PARTNER'S CAPITAL ACCOUNT
Particulars A B C Particulars A B C
To Realisation A/c (Loss) 3,000 1,000 1,000 Balance b/d 27,500 10,000 7,000
To Realisation A/c 18,000 14,200 8,000 Realisation A/c(Crs.) 6,000 – –
(Assets Taken) Realisation A/c (Loan) – – 1,530
To Cash A/c (Final Payment) 12,500 – – Cash A/c (Amt. brought in) – 5,200 470
33,500 15,200 9,000 33,500 15,560 9,000

CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 5,000 Realisation A/c (Expenses) 270
To Realisation (Remaining Debtors) 2,100 A's Capital A/c 12,500
To B's Capital A/c 5,200
To C's Capital A/c 470
12,770 12,770

Workings :

Lets the book value of sundry assets taken over by B = y

y – 10 y = 7,200
100
90 y = 7,200
100
y = 7,200 × 100
90
= 8,000
∴ Remaining Sundry Assets = 17,000 – 8,000 = 9,000
Q27. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Debtors A/c 15,850 By Creditors A/c 15,700
To Stock A/c 25,200 By Employees Provident Fund A/c 6,300
To Prepaid Expenses A/c 800 By Bank A/c (Computer) 4,500
To 100 Shares Y Co. Ltd. 1,000 By A's Capital A/c (Y Co. Ltd.) 400
To Plant & Machinery A/c 20,000 By B's Capital A/c (Y Co. Ltd.) 300
To Patents A/c 8,000 By C's Capital A/c (Y Co. Ltd.) 200
To Bank A/c : By D's Capital A/c (Y Co. Ltd.) 100
Creditors 15,700 By Bank A/c (Assets Realised) :
(–) Patents given 3,200 Debtors 10,800
12,500 Stock 15,600
(–) Discount 400 12,100 Plant & Machinery 12,000
Patents 1,800 40,200
To Bank A/c (Expenses) 1,500 By Loss Transfer to :
To Bank A/c (Employees Provident Fund) 6,300 A's Capital 9,220
B's Capital 6,915
C's Capital 4,610
D's Capital 2,305 23,050
90,750 90,750
PARTNER'S CAPITAL ACCOUNT
Particulars A B C D Particulars A B C D
To Balance b/d – – 3,200 7,415 By Balance b/d 40,000 20,000 – –
To Realisation A/c 400 300 200 100
(Y Co. Shares)
To Realisation A/c 9,220 6,915 4,610 2,305
(loss)
To Bank A/c 30,380 12,785 – – By Bank A/c – – 8,010 9,820
(Final Payment) (Amount brought in)
40,000 20,000 8,010 9,820 40,000 20,000 8,010 9,820
BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 535 By A's Capital A/c 30,380
To C's Capital A/c 8,010 By B's Capital A/c 12,785
To D's Capital A/c 9,820 By Realisation A/c (Creditors) 12,100
To Realisation A/c (Computer) 4,500 By Realisation A/c (Expenses) 1,500
To Realisation A/c (Assets) 40,200 By Realisation A/c (Employees Provident Fund) 6,300
63,065 63,065

15(
15((15)
Q28. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Stock A/c 25,000 By Provision for Doubtful Debts A/c 1,000
To Debtors A/c 40,500 By Creditors A/c 75,000
To Bills Receivable A/c 15,000 By Bills Payable A/c 30,000
To Investments A/c 60,000 By Mrs. A's Loan A/c 25,000
To Plant & Machinery A/c 80,000 By Bank Loan A/c 50,000
To Buildings A/c 61,000 By A's Capital A/c (investment) 27,000
To A's Capital A/c (Mrs. A's loan) 25,000 By B's Capital A/c (Goodwill) 40,000
To B's Capital A/c (Bills Payable) 27,000 By Cash A/c (Assets realised) :
To Cash A/c (Creditors) 67,500 Debtors 35,000
To B's Capital A/c (Expenses) 1,000 Bills Receivable 13,500
To Profit transfer to : Plant & Machinery 38,900
A's Capital 48,000 Buildings 1,20,000 2,07,400
B's Capital 28,800 76,800 By A's Capital A/c (Unrecorded Assets Taken) 23,400
4,78,800 4,78,800
PARTNER'S CAPITAL ACCOUNT
Particulars A B Particulars A B
To Realisation A/c (Investment) 27,000 — By Balance b/d 35,000 43,000
To Realisation A/c (Goodwill) – 40,000 By Profit & Loss A/c 7,500 4,500
To Realisation A/c (Assets) 23,400 – By Reserve Fund A/c 9,375 5,625
By Realisation A/c (Mrs. A's Loan) 25,000 –
By Realisation A/c (Bills Payable) – 27,000
By Realisation A/c (Expenses) – 1,000
To Cash A/c (Final Payment) 74,475 69,925 By Realisation A/c (Profit) 48,000 28,800
1,24,875 1,09,925 1,24,875 1,09,925
CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 4,500 By Realisation A/c (Creditors) 67,500
To Realisation A/c (Assets) 2,07,400 By A's Capital A/c 74,475
By B's Capital A/c 69,925
2,11,900 2,11,900
Q29. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Debtors A/c 42,000 By Provision for Doubtful Debts A/c 2,000
To Investments A/c 25,000 By Creditors A/c 60,000
To Land & Buildings A/c 80,000 By Bills Payable A/c 20,000
To Stock A/c 45,000 By Mrs. Z's Loan A/c 10,000
To Furniture A/c 30,000 By Investment Fluctuating Fund 5,000
To Bills Receivable A/c 25,000 By Cash A/c (Assets Sold) :
To Cash A/c (Creditors) 66,000 Debtors 31,500
(19,000 + 47,000) Investments 22,000
To Cash A/c (Bills Payable) 19,400 Land & Building 1,00,000
To Z's Capital A/c (Mrs. Z's loan) 10,000 Stock 36,000 1,89,500
To Y's Capital A/c (Expenses) 3,000 By Z's Capital A/c (Furniture) 28,000
By Cash A/c (Bills Receivable) 24,000
By Loss Transfer to :
X's Capital A/c 3,450
Y's Capital A/c 2,070
Z's Capital A/c 1,380 6,900
3,45,400 3,45,400
PARTNER'S CAPITAL ACCOUNT
Particulars X Y Z Particulars X Y Z
To Balance b/d – – 10,000 By Balance b/d 80,000 70,000 –
To Realisation A/c (Furniture) – – 28,000 By General Reserve A/c 10,000 6,000 4,000
To Realisation A/c (Loss) 3,4502,070 1,380 By Realisation A/c
(Mrs. Z's Loan) – – 10,000
By Realisation A/c (Expenses) – 3,000 –
To Cash A/c (Final Payment) 86,550 76,930 – By Cash A/c (Amount brought in) – – 25,380
90,000 79,000 39,380 90,000 79,000 39,380

16(
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 CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 10,000 By X's Capital A/c 86,550
To Z's Capital A/c 25,380 By Y's Capital A/c 76,930
To Realisation A/c (Assets Realised) 1,89,500 By Realisation A/c (Creditors) 66,000
To Realisation A/c (Bills Receivable) 24,000 By Realisation A/c (Bills Payable) 19,400
2,48,880 2,48,880

Q30. REALISATION ACCOUNT

Particulars Amount Particulars Amount
To Goodwill A/c 10,000 By Provision for Doubtful Debts A/c 2,000
To Buildings A/c 25,000 By Sundry Creditors A/c 20,000
To Plant A/c 25,000 By Bills Payable A/c 20,000
To Investments A/c 15,300 By Bank Overdraft A/c 8,000
To Stock A/c 8,700 By Outstanding Expenses A/c 2,000
To Debtors A/c 17,000 By X's Brother Loan A/c 20,000
To Bills Receivable A/c 10,000 By Investment Fluctuation Reserve A/c 2,800
To X's Capital A/c (X's Brother Loan) 20,000 By Employees Provident Fund A/c 1,200
To Cash A/c (Liabilities Paid) : By Cash A/c (Assets Realised):
Creditors 19,000 Debtors 12,000
Bills Payable 19,000 Plant 20,000
Bank Overdraft 8,000 Building 50,000
Outstanding Expenses 2,000 Goodwill 6,000 88,000
Employees Provident Fund 1,200 49,200 By Y's Capital A/c (Assets Taken) :
To Cash A/c (Expenses) 2,000 Stock 8,000
To Profit Transfer to : Investment 12,000 20,000
X's Capital A/c 4,900 By X's Capital A/c (Bills Receivable) 8,000
Y's Capital A/c 4,900 9,800
1,92,000 1,92,000
PARTNER'S CAPITAL ACCOUNT

Particulars X Y Particulars X Y
To Realisation A/c (Assets Taken) – 20,000 By Balance b/d 20,000 20,000
To Realisation A/c (Bills Receivable) 8,000 – By Reserve A/c 1,000 1,000
To Profit & Loss A/c 2,000 2,000 By Realisation A/c (Profit) 4,900 4,900
To Cash A/c (Final Payment) 35,900 3,900 By Realisation A/c 20,000 –
(X's Borther's Loan)
45,900 25,900 45,900 25,900

CASH & BANK ACCOUNT

Particulars Amount Particulars Amount
To Balance b/d 13,000 By Y's Loan A/c 10,000
To Realisation A/c (Assets Realised) 88,000 By Realisation A/c (Expenses) 2,000
By Realisation A/c (Liabilities paid) 49,200
By X's Capital A/c 35,900
By Y's Capital A/c 3,900
1,01,000 1,01,000

Q31. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Debtors A/c 1,748By Provision for Depreciation A/c 4,000
To Stock A/c 2,492By Sundry Creditors A/c 2,142
To X Ltd. Shares A/c 480By A's Capital A/c (Building) 6,300
To Y Ltd. Shares A/c 2,000By B's Capital A/c (Assets) :
To Building A/c 4,000 Goodwill 2,000
To Plant A/c 6,000 Stock 2,492
To Patents A/c 7,606 Debtors 1,748
To Goodwill A/c 2,000 Plant (2000 – 500) 1,500
To B's Capital A/c (Creditors) 2,142 Patents 6,500 14,240
To Profit Transfer to By C's Capital A/c (X Ltd. Shares) 300
A's Capital A/c 360 By A's Capital A/c (Y Ltd. Shares) 1,400
B's Capital A/c 103 By B's Capital A/c (Y Ltd. Shares) 400
C's Capital A/c 51 514 By C's Capital A/c (Y Ltd. Shares) 200
28,982 28,982
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 PARTNER'S CAPITAL ACCOUNT

Particulars A B C Particulars A B C

To Realisation A/c 6,300 14,240 300 By Balance b/d 2,582 1,720 16,124
(Assets Taken) By Realisation A/c (Creditors) – 2,142 –
To Realisation A/c 1,400 400 200 By Realisation A/c (Profit) 360 103 51
(Y Ltd. Share) By Bank A/c (Amount Brought in) 4,758 10,675 –
To Bank A/c (Final Payment) – – 15,675
7,700 14,640 16,175 7,700 14,640 16,175

BANK ACCOUNT

Particulars Amount Particulars Amount

To Cash A/c 242 By Z's Capital A/c 15,675
To X's Capital A/c 4,758
To Y's Capital A/c 10,675
15,675 15,675

Q32. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Debtors A/c 50,000 By Trade Creditors A/c 70,000
To Stock A/c 60,000 By B's Current A/c (Stock) 55,000
To Furniture A/c 25,000 By C's Current A/c (Buildings) 4,00,000
To Patents A/c 35,000 By Bank A/c (Assets Realised):
To Machinery A/c 1,00,000 Debtors 48,000
To Building A/c 3,20,000 Furniture 17,000
To A's Current A/c (Commission) 10,000 Machinery 80,000 1,45,000
To Bank A/c (Creditors) 65,000
To Profit Transfer to :
A's Current A/c 2,500
B's Current A/c 1,500
C's Current A/c 1,000 5,000
6,70,000 6,70,000

PARTNER'S CURRENT ACCOUNT

Particulars A B C Particulars A B C

To Balance b/d – – 10,000 By Balance b/d 30,000 20,000 –

To Bank A/c (Expenses) 12,000 – – By Profit & Loss A/c 25,000 15,000 10,000
To Realisation A/c (Stock) – 55,000 – By Realisation A/c (Commission) 10,000 – –
To Realisation A/c (Buildings) – – 4,00,000 By Realisation A/c (Profit) 2,500 1,500 1,000
To Capital A/c 55,500 – – By Capital A/c – 18,500 3,99,000
67,500 55,000 4,10,000 67,500 55,000 4,10,000

PARTNER'S CAPITAL ACCOUNT

Particulars A B C Particulars A B C

To Current A/c – 18,500 3,99,000 By Balance b/d 2,00,000 1,50,000 1,50,000

By Current A/c 55,500 – –
To Bank A/c 2,55,500 1,31,500 – By Bank A/c – – 2,49,000
(Final Payment) (Amount Brought in)

2,55,500 1,50,000 3,99,000 2,55,500 1,50,000 3,99,000

BANK ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 70,000 By A's Current A/c (Expenses) 12,000
To Realisation A/c (Assets) 1,45,000 By Realisation A/c (Creditors) 65,000
To C's Capital A/c 2,49,000 By A's Capital A/c 2,55,500
By B's Capital A/c 1,31,500
4,64,000 4,64,000

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Q33. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Land & Building A/c 47,000 By Accounts Payable A/c 15,000
To Office Equipment A/c 8,000 By Bank Overdraft A/c 12,000
To Stock A/c 56,000 By Depreciation Reserve on Machinery A/c 15,000
To Account Receivable A/c 18,000 By Bank A/c (Assets Realised) :
To Machinery A/c 15,000 Land & Building 1,20,000
To Bank A/c : Stock 40,000
To Creditors (Account Payable) 15,000 Accounts Receivable 15,000
(–) Office Equipment 7,000 8,000 Machinery 9,000 1,84,000
To Bank A/c (Bank Overdraft) 12,000
To Bank A/c (Expenses) 3,000
To Profit Transfer to :
P's Capital A/c 11,800
Q's Capital A/c 23,600
R's Capital A/c 23,600 59,000
2,26,000 2,26,000

PARTNER'S CAPITAL ACCOUNT

Particulars P Q R Particulars P Q R
By Balance b/d 20,000 40,000 40,000
To Bank A/c (Final Payment) 31,800 63,600 63,600 By Realisation A/c (Profit) 11,800 23,600 23,600
31,800 63,600 63,600 31,800 63,600 63,600

BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 16,000 By Q's Loan A/c 18,000
To Realisation A/c (Assets) 1,84,000 By P's Capital A/c 31,800
By Q's Capital A/c 63,600
By R's Capital A/c 63,600
By Realisation A/c (Bank Overdraft) 12,000
By Realisation A/c (Expenses) 3,000
By Realisation A/c (Accounts Payable) 8,000
2,00,000 2,00,000

Q34. REALISATION ACCOUNT

Particulars Amount Particulars Amount
To Debtors A/c 75,000 By Creditors A/c 50,000
To Stock A/c 40,000 By Bank Loan A/c 35,000
To Investments A/c 20,000 By Provident Fund A/c 15,000
To Plant A/c 50,000 By Investment Fluctuation Fund A/c 10,000
To Anju's Capital A/c (Commission) 7,825 By Commission Received in Advance A/c 8,000
To Cash A/c (Commission Refund) 5,000 By Cash A/c (Assets Realised) :
To Cash A/c (Liabilities Paid) : Debtors 60,000
Provident Fund 20,000 Stock 35,500
Compensation to Employees 17,000 Investments 16,000
O/s Salary 8,500 Plant 45,000 1,56,500
Bank Loan 35,000 By Loss Transfer to :
Creditors 50,000 1,30,500 Anju's Capital A/c 21,530
Manju's Capital A/c 21,530
Sanju's Capital A/c 10,765 53,825
3,28,325 3,28,325

PARTNER'S CAPITAL ACCOUNT

Particulars Anju Manju Sanju Particulars Anju Manju Sanju

To Profit & Loss A/c 1,200 1,200 600 By Balance b/d 50,000 50,000 30,000
To Cash A/c (Expenses) 7,500 – – By Realisation A/c 7,825 – –
To Realisation A/c (Loss) 21,530 21,530 10,765 (Commission)
To Cash A/c 27,595 27,270 18,635
(Final Payment)
57,825 50,000 30,000 57,825 50,000 30,000

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 CASH ACCOUNT
Particulars Amount Particulars Amount

To Balance b/d 60,000 By Anju's Capital A/c (Expenses) 7,500

To Realisation A/c (Assets) 1,56,500 By Realisation A/c (Liabilities Paid) 1,30,500
By Realisation A/c (Commision) 5,000
By Anju's Capital A/c 27,595
By Manju's Capital A/c 27,270
By Sanju's Capital A/c 18,635
2,16,500 2,16,500

Q35. REALISATION ACCOUNT

Particulars Amount Particulars Amount
To Buildings A/c 10,000 By Employees Provident Fund A/c 3,000
To Plant A/c 22,000 By Depreciation Reserve on Plant A/c 5,000
To Stock A/c 6,000 By Creditors A/c 11,000
To Furniture A/c 6,200 By S's Capital A/c (Building) 10,000
To Debtors A/c 5,000 By Cash A/c (Assets Realised) :
To Accrued Interest A/c 1,000 Plant 25,000
To S's Capital A/c (Creditors) 11,000 Stock 5,000
Cash A/c (Contingent Liability) 600 Debtors 4,600
Cash A/c (Expenses) 600 Furniture 6,200 40,800
To Cash A/c (Employees Provident Fund) 3,000
To Profit Transfer to :
J's Capital A/c 2,200
S's Capital A/c 1,467
R's Capital A/c 733 4,400
69,800 69,800
PARTNER'S CAPITAL ACCOUNT

Particulars J S R Particulars J S R
To Realisation A/c (Building) – 10,000 – By Balance b/d 12,000 8,600 10,400
By Reserve Fund A/c 1,500 1,000 500
By Realisation A/c (Profit) 2,200 1,467 733
To Cash A/c (Final Payment) 15,700 12,067 11,633 By Realisation A/c (Creditors) – 11,000 –
15,700 22,067 11,633 15,700 22,067 11,633
CASH ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 2,800 By Realisation A/c (Contingent Liabilities + Realisation 4,200
To Realisation A/c (Assets) 40,800 Expenses + Employees Provident Fund)
By J's Capital A/c 15,700
By S's Capital A/c 12,067
By R's Capital A/c 11,633
43,600 43,600

Q36. REALISATION ACCOUNT

Particulars Amount Particulars Amount
To Machinery A/c 1,08,000 By Creditors A/c 1,07,000
To Building A/c 30,000 By Building Fund A/c 12,000
To Investment A/c 25,000 By Provident Fund A/c 18,000
To Stock A/c 60,000 By Cash A/c (Assets sold) :
To Debtors A/c 36,000 Building 20,000
To Hari's Capital A/c (Commission) 5,000 Debtors 31,000
To Cash A/c : Stock 40,000
Creditors 1,07,000 Machinery 80,000
(–) Investment 23,000 Unrecorded Assets 3,000 1,74,000
84,000 By Loss Transfer to :
(–) Discount 4,000 80,000 Ram's Capital A/c 20,400
To Cash A/c (Provident Fund) 18,000 Hari's Capital A/c 20,400
Ashok's Capital A/c 10,200 51,000

3,62,000 3,62,000

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 PARTNER'S CAPITAL ACCOUNT
Particulars Ram Hari Ashok Particulars Ram Hari Ashok
To Balance b/d – – 25,000 By Balance b/d 1,05,000 42,000 –
To Realisation A/c (Loss) 20,400 20,400 10,200 By Realisation A/c (Commission) – 5,000 –
To Cash A/c 84,600 26,600 – By Cash A/c – – 35,200
(Final Payment) (Amount Brought in)
1,05,000 47,000 35,200 1,05,000 47,000 35,200
CASH ACCOUNT
Particulars Amount Particulars Amount
To Realisation A/c (Assets sold) 1,74,000 By Realisation A/c (Creditors) 80,000
To Ashok's Capital A/c 35,200 By Realisation A/c (Provident Fund) 18,000
By Ram's Capital A/c 84,600
By Hari's Capital A/c 26,600
2,09,200 2,09,200
Q37. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Stock A/c 5,000 By Provision for Doubtful Debts A/c 2,000
To Investment A/c 10,000 By Creditors A/c 38,000
To Debtors A/c 20,000 By Loan from Mrs. X 5,000
To Fixed Assets A/c 39,000 By Loan from Mrs. Y 10,000
To X's Capital A/c (Mrs. X Loan) 5,000 By Investment Fluctuation Reserve A/c 1,000
To Cash A/c (Liabilities Paid) : By X's Capital A/c (Stock) 4,000
Creditors 37,810 By Y's Capital A/c (Investment) 4,500
Mrs. Y's Loan 10,000 47,810 By Cash A/c (Assets Realised) :
To Cash A/c (Expenses) 1,000 Debtors 19,000
To Profit Transfer To : Fixed Assets 71,000
X's Capital A/c 15,745 Remaining Investment 4,500 94,500
Y's Capital A/c 15,745 31,490 By Y's Capital A/c (Furniture) 300
1,59,300 1,59,300
PARTNER'S CAPITAL ACCOUNT
Particulars X Y Particulars X Y
To Profit & Loss A/c 1,750 1,750 By Balance b/d 10,000 10,000
To Realisation A/c (Stock) 4,000 – By Reserve A/c 5,000 5,000
To Realisation A/c (Investment + Furniture) – 4,800 By Realisation A/c (Profit) 15,745 15,745
To Cash A/c (Final Payment) 29,995 24,195 By Realisation A/c (Mrs. X Loan) 5,000 –

35,745 30,745 35,745 30,745

CASH & BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 8,500 By Realisation A/c (Liabilities Paid) 47,810
To Realisation A/c (Assets Realised) 94,500 By Realisation A/c (Expenses) 1,000
By X's Capital A/c 29,995
By Y's Capital A/c 24,195
1,03,000 1,03,000
Workings : Discount on Debtors = 20,000 × 6/100 × 10/12 = 1,000
Discount on Creditors = 38,000 × 6/100 × 1/12 = 190
Q38. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Debtors A/c 30,000 By Creditors A/c 50,000
To Stock A/c 20,000 By Bills Payable A/c 10,000
To Furniture A/c 15,000 By R's Loan A/c 12,000
To Land & Building A/c 2,45,000 By Bank A/c (Debtors) 28,000
To Bank A/c (Liabilities Paid) By T's Capital (Stock) 15,000
Creditors 45,000 By Bank A/c (Furniture) 12,000
Bills Payable 9,000 54,000 By Bank A/c (Land & Building) 2,80,000
To Bank A/c (R's Loan) 12,000 By Bank A/c (Unrecorded Car) 1,00,000
To Profit Tranfer to :
D's Capital A/c 43,667
G's Capital A/c 43,667
T's Capital A/c 43,666 1,31,000
5,07,000 5,07,000

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 PARTNER'S CAPITAL ACCOUNT

Particulars D G T Particulars D G T
To Balance b/d — 20,000 — By Balance b/d 1,00,000 — 1,50,000
To Realisation A/c (Stock) — — 15,000 By General Reserve A/c 6,667 6,667 6,666
To Bank A/c 1,50,334 30,334 1,85,332 By Realisation A/c (Profit) 43,667 43,667 43,666
(Final Payment)
1,50,334 50,334 2,00,332 1,50,334 50,334 2,00,332

BANK ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 20,000 By G's Loan A/c 8,000

To Realisation (Debtors) 28,000 By Realisation (Creditors + Bills Payable) 54,000
To Realisation A/c : (Assets Realised) By Realisation (R's Loan) 12,000
Furniture 12,000 By D's Capital A/c 1,50,334
Land & Building 2,80,000 By G's Capital A/c 30,334
Car 1,00,000 3,92,000 By T's Capital A/c 1,85,332
4,40,000 4,40,000

Q39. REALISATION ACCOUNT

Particulars Amount Particulars Amount

To Stock in Trade A/c 5,000 By Provision for Bad Debts A/c 2,000
To Investment A/c 10,000 By Sundry Creditors A/c 30,000
To Debtors A/c 20,000 By Bills Payable A/c 8,000
To Plant A/c 20,000 By Mrs. A's Loan A/c 5,000
To Buildings A/c 15,000 By Mrs. B's Loan A/c 10,000
To Goodwill A/c 4,000 By Salaries Outstanding A/c 1,000
To A's Capital (Mrs. A's Loan) 5,000 By A's Capital (Stock) 4,000
To Cash A/c (Sundry Creditors + Bills Payable ) 37,810 By B's Capital (Investment) 4,500
To Cash A/c (Expenses) 1,000 By Cash A/c (Debtors) 19,000
To Cash (Mrs. B's Loan) 10,000 By Cash A/c : (Assets Realised)
To Cash A/c (Salaries Outstanding) 1,000 Plant 25,000
To Profit Transfer to : Building 40,000
A's Capital A/c 15,245 Goodwill 6,000
B's Capital A/c 15,245 30,490 Investments 4,500 75,500
By B's Capital (Typewriter) 300
1,59,300 1,59,300

PARTNER'S CAPITAL ACCOUNT

Particulars A B Particulars A B
To Profit & Loss A/c 1,750 1,750 By Balance b/d 10,000 10,000
To Realisation A/c (Stock) 4,000 — By General Reserve A/c 5,000 5,000
To Realisation A/c (Investment) — 4,500 By Realisation A/c (Profit) 15,245 15,245
To Realisation A/c (Typewriter) — 300 By Realisation (Mrs. A's Loan) 5,000 —
To Cash A/c (Final Payment) 29,495 23,695
35,245 30,245 35,245 30,245

CASH ACCOUNT

Particulars Amount Particulars Amount

To Balance b/d 500 By Realisation A/c : (Liabilities paid)

To Bank A/c 8,000 Sundry Creditors + Bills Payable 37,810
To Realisation : (Assets) Mrs. B's Loan 10,000
Debtors 19,000 Salaries Outstanding 1,000
Plant 25,000 Expenses 1,000 49,810
Building 40,000 By A's Capital A/c 29,495
Goodwill 6,000 By B's Capital A/c 23,695
Investments 4,500 94,500
1,03,000 1,03,000

Workings : Creditors + Bills Payable = 38,000

Discount on Creditors + Bills Payable = 38,000 × 6/100 × 1/12 = 190

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 JOURNAL ENTRIES

Q40. JOURNALS Q42. JOURNALS

Date Particulars Debit Credit Date Particulars Debit Credit

(i) Bank A/c ...Dr. 18,000 (i) Realisation A/c ...Dr. 10,000

To Realisation A/c 18,000 To James's Capital A/c 10,000

(ii) Juneja's Capital A/c ...Dr. 7,000 (ii) Bank A/c ...Dr. 12,000

To Realisation A/c 7,000 To Realisation A/c 12,000

(iii) Realisation A/c ...Dr. 31,000 (iii) Haider's Capital A/c ...Dr. 12,000

To Suneja's Capital A/c 31,000 To Realisation A/c 12,000

(iv) Bank A/c ...Dr. 12,700 (iv) Realisation A/c ...Dr. 19,000

To Realisation A/c 12,700 To Bank A/c 19,000

(v) Realisation A/c ...Dr. 1,500 (v) Realisation A/c ...Dr. 2,000

To Bank A/c 1,500 To Bank A/c 2,000

(vi) Juneja's Capital A/c ...Dr. 2,000 (vi) James's Capital A/c ...Dr. 6,800

Suneja's Capital A/c ...Dr. 2,500 Haider's Capital A/c ...Dr. 3,400

To Realisation A/c 4,500 To Realisation A/c 10,200

Q41. JOURNALS Q43. JOURNALS

Date Particulars Debit Credit Date Particulars Debit Credit

(i) Realisation A/c ...Dr. 15,000 (i) Realisation A/c ...Dr. 17,000

To Bank A/c 15,000 To R's Capital A/c 17,000

(ii) L's Capital A/c ...Dr. 20,000 (ii) Realisation A/c ...Dr. 70,000

To Realisation A/c 20,000 To L's Capital A/c 70,000

(iii) Realisation A/c ...Dr. 9,000 (iii) R's Capital A/c ...Dr. 39,000

To K's Capital A/c 9,000 To Realisation A/c 39,000

(iv) Realisation A/c ...Dr. 3,700 (iv) Bank A/c ...Dr. 39,000

To Bank A/c 3,700 To Realisation A/c 39,000

(v) Realisation A/c ...Dr. 900 (v) Realisation A/c ...Dr. 4,900

To L's Capital A/c 900 To L's Capital A/c 4,900

(vi) K's Capital A/c ...Dr. 4,970 (vi) R's Capital A/c ...Dr. 6,750

L's Capital A/c ...Dr. 2,130 L's Capital A/c ...Dr. 2,250

To Realisation A/c 7,100 To Realisation A/c 9,000

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 EXAMINATION PROBLEMS
Q44. JOURNAL
Date Particulars L.F Debit Credit
(i) Realisation A/c ...Dr. 2,10,000
To Land & Building A/c 70,000
To Machinery A/c 60,000
To Debtors A/c 80,000
(ii) Creditors A/c ...Dr. 70,000
To Realisation A/c 70,000
(iii) Bank A/c (42,000 + 79,500) ...Dr. 1,21,500
To Realisation A/c 1,21,500
(iv) Realisation A/c ...Dr. 20,000
To Bank A/c 20,000
(v) Realisation A/c ...Dr. 1,700
To Bank A/c 1,700
(vi) Verma's Capital A/c ...Dr. 30,150
Sharma's Capital A/c ...Dr. 10,050
To Realisation A/c 40,200
(vii) Verma's Capital A/c ...Dr. 89,850
Sharma's Capital A/c ...Dr. 69,950
To Bank A/c 1,59,800
Workings : REALISATION ACCOUNT
Particulars Amt. Particulars Amt.
Land & Building A/c 70,000 Creditors A/c 70,000
Machinery A/c 60,000 Bank A/c (Machinery) 42,000
Debtors A/c 80,000 Bank A/c (Debtors) 79,500
Bank A/c (Remaining creditors) 20,000 Loss transferred to :
Bank A/c (Realisation exps.) 1,700 Verma's Cap. A/c 30,150
Sharma's Cap. A/c 10,050 40,200
2,31,700 2,31,700
PARTNER'S CAPITAL ACCOUNTS
Particulars Verma Sharma Particulars Verma Sharma
Realisation A/c(Loss) 30,150 10,050 Balance b/d 1,20,000 80,000
Bank A/c (Final Payment) 89,850 69,950
1,20,000 80,000 1,20,000 80,000
Q45. JOURNAL
Date Particulars L.F Debit Credit
(i) Realisation A/c ...Dr. 2,60,000
To Goodwill A/c 80,000
To Land & Building A/c 80,000
To Stock A/c 60,000
To Debtors A/c 40,000
(ii) Creditors A/c ...Dr. 50,000
Workmen Compensation Fund A/c ...Dr. 70,000
To Realisation A/c 1,20,000
(iii) Workmen Compensation Fund A/c ...Dr. 10,000
To P's Capital A/c 6,000
To Q's Capital A/c 4,000
(iv) Bank A/c (50,000 + 35,000) ...Dr. 85,000
To Realisation A/c 85,000
(v) Realisation A/c ...Dr. 70,000
To Bank A/c 70,000
(vi) P's Capital A/c ...Dr. 75,000
Q's Capital A/c ...Dr. 50,000
To Realisation A/c 1,25,000
(vii) P's Capital A/c ...Dr. 11,000
Q's Capital A/c ...Dr. 24,000
To Bank A/c 35,000

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Workings : REALISATION ACCOUNT
Particulars Amt. Particulars Amt.
Goodwill A/c 80,000 Creditors A/c 50,000
Land & Building A/c 80,000 Workmen Comp. Fund 70,000
Stock A/c 60,000 Bank A/c (Stock) 50,000
Debtors A/c 40,000 Bank A/c (Debtors) 35,000
Bank A/c (W.C.Claim) 70,000 Loss transferred to :
P's Cap. A/c 75,000
Q's Cap. A/c 50,000 1,25,000
3,30,000 3,30,000
PARTNER'S CAPITAL ACCOUNTS
Particulars P Q Particulars P Q
Realisation A/c(Loss) 75,000 50,000 Balance b/d 80,000 70,000
Bank A/c 11,000 24,000 By W.C. Fund A/c 6,000 4,000
(Final Payment)
86,000 74,000 86,000 74,000
Q46. JOURNAL
Date Particulars L.F Debit Credit
(a) Bank A/c ...........Dr. 40,000
To Realisation A/c 40,000
(b) No Entry
(c) Realisation A/c ...........Dr. 30,000
To Bank A/c 30,000
(d) L's Capital A/c ...........Dr. 1,600
M's Capital A/c ...........Dr. 2,400
To Realisation A/c 4,000
Q47. JOURNAL
Date Particulars L.F Debit Credit
(a) Realisation A/c ...........Dr. 10,000
To Cash A/c 10,000
(b) Realisation A/c ...........Dr. 29,550
To Cash A/c 29,550
(c) Realisation A/c ...........Dr. 21,000
To Cash A/c 21,000
(d) Rajat's Capital A/c ...........Dr. 450
To Realisation A/c 450
(e)
(i) Realisation A/c ...........Dr. 1,000
To Aman's Capital A/c 1,000
(ii) Aman's Capital A/c ...........Dr. 800
To Cash A/c 800
(f) Aman's Capital A/c ...........Dr. 36,000
Rajat's Capital A/c ...........Dr. 18,000
To Realisation A/c 54,000

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Q48. JOURNAL
Date Particulars L.F Debit Credit
(a) Realisation A/c ...........Dr. 10,000
To L's Capital A/c 10,000
(b) Realisation A/c ...........Dr. 8,000
To M's Capital A/c 8,000
(c) Realisation A/c ...........Dr. 5,000
To Cash A/c 5,000
(d) Realisation A/c ...........Dr. 7,000
To P's Capital A/c 7,000
(e)
(i) Realisation A/c ...........Dr. 9,000
To N's Capital A/c 9,000
(ii) N's Capital A/c ...........Dr. 4,000
To Cash A/c 4,000
(f) No Entry

Q49. JOURNAL
Date Particulars L.F Debit Credit

(i) Realisation A/c ...Dr. 800

To Bank A/c 800
(Dissolution expenses paid)
(ii) Realisation A/c ...Dr. 800
To Prabhu's Capital A/c 800
(Dissolution expenses paid by Prabhu a partner)
(iii) Realisation A/c ...Dr. 10,000
To Geeta's Capital A/c 10,000
(Remuneration allowed to Geeta)
(iv)
(a) Realisation A/c ...Dr. 5,000
To Janki's Capital A/c 5,000
(Commission allowed to Janki)
(b) Janki's Capital A/c ...Dr. 5,500
To Mohan's Capital A/c 5,500
(Dissolution expenses paid by Mohan on behalf of Janki)
(v) NO ENTRY
(vi) NO ENTRY

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Q50. JOURNAL
Date Particulars L.F Debit Credit
2015
Mar.31 Realisation A/c ...Dr. 4,06,000
To Debtors A/c 76,000
To Stock A/c 2,00,000
To Furniture A/c 20,000
To Leasehold Premises A/c 1,00,000
To Goodwill A/c 10,000
(Being Sundry assets transferred to realisation account)
Mar.31 Creditors A/c ...Dr. 36,000
Garima's Husband's Loan A/c ...Dr. 60,000
Provision for Doubtful Debts A/c ...Dr. 10,000
To Realisation A/c 1,06,000
(Being Sundry liabilities transferred to realisation account)
Mar.31 Realisation A/c ...Dr. 60,000
To Garima's Capital A/c 60,000
(Being Garima's Husband loan paid by Garima)
Mar.31 Realisation A/c ...Dr. 17,100
To Bank A/c 17,100
(Being payment made to creditors)
Mar.31 Realisation A/c ...Dr. 10,000
To Garima's Capital A/c 10,000
(Being remuneration provide to Garima)
Mar.31 Bank A/c ...Dr. 4,08,000
To Realisation A/c 4,08,000
(Being assets realised)
Mar.31 Hema's Loan A/c ...Dr. 40,000
Realisation A/c ...Dr. 1,000
To Bank A/c 41,000
(Being Hema's loan paid in cash)
Mar.31 Realisation A/c ...Dr. 19,900
To Hema's Capital A/c 11,940
To Garima's Capital A/c 7,960
(Being profit on realisation transferred to capital account)
Mar.31 Hema's Capital A/c ...Dr. 2,11,940
Garima's Capital A/c ...Dr. 1,77,960
To Bank A/c 3,89,900
(Being final payment made to partners)
Workings : REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Debtors A/c 76,000 By Creditors A/c 36,000
To Stock A/c 2,00,000 By Garima's Husband's Loan A/c 60,000
To Furniture A/c 20,000 By Provision for doubtful debts 10,000
To Leasehold Premises A/c 1,00,000 By Bank A/c : (Assets Realised)
To Goodwill A/c 10,000 Leasehold Premises 1,50,000
To Garima's Capital A/c (Husband's Loan) 60,000 Debtors 74,000
To Bank A/c (Hema's Loan) 1,000 Stock (90,000 + 94,000) 1,84,000 4,08,000
To Bank A/c (Remaining Creditors) 17,100
To Garima's Capital A/c (Remuneration) 10,000
To Profit Transfer to :
Hema's Capital A/c 11,940
Garima's Capital A/c 7,960 19,900
5,14,000 5,14,000

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 PARTNER'S CAPITAL ACCOUNT
Particulars Hema Garima Particulars Hema Garima
To Bank A/c (Final Payment) 2,11,940 1,77,960 By Balance b/d 2,00,000 1,00,000
By Realisation A/c (Husband's Loan) — 60,000
By Realisation A/c (Remuneration) — 10,000
By Realisation A/c (Profit) 11,940 7,960
2,11,940 1,77,960 2,11,940 1,77,960

BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 40,000 By Hema's Loan A/c 40,000
To Realisation A/c (Assets Realised) 4,08,000 By Realisation A/c (Hema's Loan) 1,000
By Realisation A/c (Remaining Creditors) 17,100
By Hema's Capital A/c 2,11,940
By Garima's Capital A/c 1,77,960
4,48,000 4,48,000
Q51. JOURNAL
Date Particulars L.F Debit Credit

(i) Realisation A/c ...Dr. 6,000

To K's Capital A/c 6,000
(K agreed to pay off his wife's loan)
(ii) Realisation A/c ...Dr. 27,000
To Bank A/c 27,000
(Payment made to Creditors at a discount)
(iii) K's Capital A/c ...Dr. 3,000
To Realisation A/c 3,000
(Unrecorded machine taken over by K)
(iv) R's Capital A/c ...Dr. 5,000
K's Capital A/c ...Dr. 5,000
S's Capital A/c ...Dr. 5,000
To Profit and Loss A/c 15,000
(Debit balance of Profit & Loss transferred to Capital Accounts)

Q52. JOURNAL
Date Particulars L.F Debit Credit

(i) Ravi's Capital A/c ...Dr. 19,200

To Realisation A/c 19,200
(40% Stock taken over by Ravi a partner)
(ii) NO ENTRY
(iii) Cash A/c ...Dr. 22,500
To Realisation A/c 22,500
(Remaining stock realised)
(iv) Realisation A/c ...Dr. 45,000
To Cash A/c 45,000
(Remaining creditors were paid at discount)

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Q53. JOURNAL
Date Particulars L.F Debit Credit
(i)
(a) Gaurav's Capital A/c ...Dr. 3,00,000
To Realisation A/c 3,00,000
(Machinery taken over by Gaurav a partner)
(b) No Entry for the creditors taking over stock
(ii) Bank A/c ...Dr. 3,92,000
To Realisation A/c 3,92,000
(iii)
(a) Realisation A/c ...Dr. 76,000
To Bank A/c 76,000
(b) Vaibhav's Capital A/c ...Dr. 17,000
To Realisation A/c 17,000
(Remaining assets taken over by Vaibhav by a partner)
(iv) Realisation A/c ...Dr. 3,21,000
To Bank A/c 3,21,000
(Bank loan paid along with interest)
Q54. JOURNAL
Date Particulars L.F Debit Credit
(i) Bank A/c ...Dr. 1,63,000
To Realisation A/c 1,63,000
(Debtors realised)
(ii)
(a) Realisation A/c ...Dr. 3,500
To Bank A/c 3,500
(b) No Entry for remaining creditors taking over the stock
(iii) Realisation A/c ...Dr. 2,000
To Bank A/c 2,000
(Discounted bill dishonour were paid)
(iv) Realisation A/c ...Dr. 6,000
To Ravi's Capital A/c 4,200
To Shankar's Capital A/c 1,200
To Madhur's Capital A/c 600
(Profit on realisation distributed)
Q55. JOURNAL
Date Particulars L.F Debit Credit
(i) Ankit's Capital A/c ...Dr. 32,000
Cash/Bank A/c ...Dr. 52,000
To Realisation A/c 84,000
(Ankit a partner took over 50% stock and remaining realised )
(ii) Realisation A/c ...Dr. 69,000
To Cash/Bank A/c 69,000
(Liabilities paid)
(iii) Realisation A/c ...Dr. 22,000
To Cash/Bank A/c 22,000
(Bobby's sister's loan was paid along with interest)
(iv) Kartik's Loan A/c ...Dr. 12,000
Realisation A/c ...Dr. 500
To Cash/Bank A/c 12,500
(Kartik's loan was paid)

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Q56. JOURNAL
Date Particulars L.F Debit Credit
2019
Mar.31
(a) Realisation A/c ...Dr. 45,000
To Niyati's Capital A/c 45,000
(Unrecorded liability paid by the partner)
(b) Realisation A/c ...Dr. 32,000
To Cash A/c 32,000
(Payment made to creditors)
(c) Kartik's Loan A/c ...Dr. 18,000
To Cash A/c 18,000
(Repayment of Loan by Kartik)
(d) Ratik's Capital A/c ...Dr. 72,000
To Realisation A/c 72,000
(Stock taken over by Ratik)
(e) Realisation A/c ...Dr. 6,000
To Kartik's Capital A/c 6,000
(Dissolution expenses paid by Kartik on behalf of firm)
(f) Niyati's Capital A/c ...Dr. 20,000
Kartik's Capital A/c ...Dr. 12,000
Ratik's Capital A/c ...Dr. 8,000
To Realisation A/c 40,000
(Loss on dissolution debited to capital accounts)
Q57. JOURNAL
Date Particulars L.F Debit Credit
(a) Bank A/c ...Dr. 68,000
To Realisation A/c 68,000
(Debts written off now recovered)
(b) Realisation A/c ...Dr. 44,000
To Bank A/c 44,000
(Remaining payment made to creditors)
(c) Ritvik's Loan A/c ...Dr. 21,000
To Bank A/c 19,000
To Realisation A/c 2,000
(Repayment of Loan by Ritvik)
(d) Diksha's Capital A/c ...Dr. 60,000
Bank A/c ...Dr. 12,000
To Realisation A/c 72,000
(Stock taken over by Diksha and remaining were sold)
(e) Realisation A/c ...Dr. 23,000
To Bank A/c 23,000
(Dissolution expenses paid by firm)
(f) Realisation A/c ...Dr. 18,000
To Diksha's Capital A/c 9,000
To Preeti's Capital A/c 6,000
To Ritvik's Capital A/c 3,000
(Profit on dissolution distributed among partners)

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Q58. JOURNAL
Date Particulars L.F Debit Credit
(a)
(i) Cash/Bank A/c ...Dr. 66,000
To Realisation A/c 66,000
(Furniture realised through auction)
(ii) Realisation A/c ...Dr. 2,000
To Cash/Bank A/c 2,000
(Auctioneer's commission paid)
OR
Cash/Bank A/c ...Dr. 64,000
To Realisation A/c 64,000
(Furniture realised, recorded at net of commission)
(b) No Entry
(c) Umang's Loan A/c ...Dr. 1,09,000
To Cash/Bank A/c 1,00,000
To Realisation A/c 9,000
(Umang's Loan settled)
(d) Neeraj's Capital A/c ...Dr. 25,000
Cash/Bank A/c ...Dr. 35,000
To Realisation A/c 60,000
(Investments taken by Neeraj and remaining were sold)
(e) Realisation A/c ...Dr. 21,000
To Prateek's Capital A/c 21,000
(Dissolution expenses paid by Prateek)
(f) Prateek's Capital A/c ...Dr. 28,000
Neeraj's Capital A/c ...Dr. 8,000
Umang's Capital A/c ...Dr. 4,000
To Realisation A/c 40,000
(Loss on dissolution debited to partners capital accounts)
Q59. JOURNAL
Date Particulars L.F Debit Credit

(i) Realisation A/c ...Dr. 5,000

To Cash/Bank A/c 5,000
(Realisation expenses paid)
(ii) Cash/Bank A/c ...Dr. 2,200
To Realisation A/c 2,200
(Unrecorded computer realised)
(iii) Cash/Bank A/c ...Dr. 40,000
To Realisation A/c 40,000
(Building taken by creditor and excess paid by him)
(iv) Subhi's Capital A/c ...Dr. 8,000
Sudha's Capital A/c ...Dr. 2,000
To Realisation A/c 10,000
(Loss on dissolution debited to partners capital accounts)
Q60. d) ` 30,000 (Loss)

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Q61. JOURNALS
Date Particulars L.F. Debit Credit
(i) Dhwani’s Loan A/c Dr. 50,000
To Bank A/c 42,000
To Realisation A/c 8,000
(Dhwani’s Loan of ` 50,000 settled at ` 42,000)
(ii) Paavni’s Loan A/c Dr. 40,000
To Realisation A/c 40,000
(Paavni’s Loan of ` 40,000 settled by giving an unrecorded asset)
(iii) Realisation A/c Dr. 60,000
To Loan to Charu A/c 60,000
(Loan to Charu was settled by payment to Charu’s brother Loan)
(iv) Iknoor’s Loan A/c Dr. 80,000
To Realisation A/c 60,000
To Bank A/c 20,000
(Iknoor’s Loan of ` 80,000 and Machinery was given as part
payment and rest through bank)
Q74.
JOURNAL
Date Particulars L.F Debit Credit
(i) Realisation A/c ...........Dr. 6,000
To Cash/Bank A/c 6,000
(Realisation expenses paid)
(ii) Realisation A/c ...........Dr. 15,000
To Sohan's Capital A/c 15,000
(Realisation expenses paid by the partner credited to Capital Account)
(iii) Mohan's Capital A/c ...........Dr. 20,000
To Cash/Bank A/c 20,000
(Realisation expenses paid by the firm on behalf of the partner debited to his Capital Account)
(iv) Realisation A/c ...........Dr. 10,000
To X's Capital A/c 10,000
(Remuneration to partner credited to his Capital Account)
(v) Realisation A/c ...........Dr. 3,000
To Cash/Bank A/c 3,000
(Realisation expenses borne and paid by the firm)
Z's Capital A/c ...........Dr. 2,000
To Cash/Bank A/c 2,000
(Realisation expenses borne by Z, but paid by the firm)
(vi) No Entry
(vii) Realisation A/c ...........Dr. 9,000
To C's Capital A/c 9,000
(Remuneration payable to C, a partner)
(viii)
(a) Realisation A/c ...........Dr. 30,000
To D's Capital A/c 30,000
(Remuneration payable to D, a partner)
(b) Realisation A/c ...........Dr. 16,000
To Cash/Bank A/c 16,000
(Realisation expenses paid)
(ix) Amit's Capital A/c ...........Dr. 18,000
To Sumit's Capital A/c 18,000
(Realisation expenses to be borne by Amit, paid by Sumit)

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Q62. REALISATION ACCOUNT
Particulars Amount Particulars Amount
Sundry Assets : Creditors 10,000
Furniture 37,000 Investment Fluc. Fund 4,500
Stock 5,500 Prachi's Cap. A/c (Investment) 12,500
Investment 15,000 57,500 Cash A/c (Stock & Furniture) 41,500
Cash A/c (Comp. to Employee) 8,000 Ritika's Cap. A/c (Furniture) 3,000
Cash A/c (Real. Exps.) 1,000 Loss transferred to :
Cash A/c (Creditors) 10,000 Prachi's Cap. A/c 3,000
Prachi's Cap. A/c (Commission) 1,000 Ritika's Cap. A/c 1,800
Ishita's Cap. A/c 1,200 6,000
77,500 77,500
PARTNER'S CAPITAL ACCOUNT
Particulars Prachi Ritika Ishita Particulars Prachi Ritika Ishita
Balance b/d – – 18,000 Balance b/d 40,000 30,000 –
Realisation A/c 12,500 – – Realisation A/c 1,000 – –
Realisation A/c – 3,000 –
Real. A/c (Loss) 3,000 1,800 1,200
Cash A/c 25,500 25,200 – Cash A/c – – 19,200
(Final Payment) (Amt. Brought in)
41,000 30,000 19,200 41,000 30,000 19,200

CASH ACCOUNT
Particulars Amount Particulars Amount
Balance b/d 9,000 Real. A/c (Liab & Exps. paid) 19,000
Real. A/c (Assets Realised) 41,500 Prachi's Capital A/c 25,500
Ishita's Capital A/c 19,200 Ritika's Capital A/c 25,200
69,700 69,700

Q63. REALISATION ACCOUNT

Particulars Amount Particulars Amount
To Stock in Trade A/c 5,000 By Provision for D/D 2,000
To Investments A/c 10,000 By Sundry Creditors A/c 30,000
To Debtors A/c 20,000 By Bills Payable A/c 8,000
To Plant A/c 20,000 By Mrs. A's Loan A/c 5,000
To Buildings A/c 15,000 By Mrs. B's Loan A/c 10,000
To Goodwill A/c 4,000 By Investment Fluctuation Res. A/c 1,000
To A's Capital (Mrs. A's Loan) 5,000 By A's Capital (Stock) 4,000
To Cash A/c (S. Creditors + Bills Payable) 37,620 By B's Capital (Half Investment) 4,500
To Cash (Mrs. B's Loan) 10,000 By Cash A/c : (Assets Realised)
To Profit Transfer to : Debtors 19,000
A's Capital A/c 16,340 Plant 25,000
B's Capital A/c 16,340 32,680 Building 40,000
Goodwill 6,000
Remaining Investments 4,500 94,500
By B's Capital (Typewriter) 300
1,59,300 1,59,300
PARTNERS CAPITAL ACCOUNTS
Particulars A B Particulars A B
To Advertisement Suspense A/c 1,750 1,750 By Balance b/d 10,000 10,000
To Realisation A/c (Stock) 4,000 — By General Reserve A/c 5,000 5,000
To Realisation A/c (Investment) — 4,500 By Profit and Loss A/c 2,500 2,500
To Realisation A/c (Typewriter) — 300 By Realisation (Mrs. A's Loan) 5,000 —
To Cash A/c (Final Payment) 33,090 27,290 By Realisation A/c (Profit) 16,340 16,340
38,840 33,840 38,840 33,840

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 CASH ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 5,500 By A's Loan A/c 6,000
To Bank A/c 14,000 By Realisation A/c (Liabilities paid)
To Realisation A/c (Assets Realised) S.Creditors + Bills Payable 37,620
Debtors 19,000 Mrs. B's Loan 10,000 47,620
Plant 25,000 By A's Capital A/c 33,090
Building 40,000 By B's Capital A/c 27,290
Goodwill 6,000
Investments 4,500 94,500
1,14,000 1,14,000
Workings :
Creditors + Bills Payable = 38,000
Discount on Creditors + Bills Payable = 38,000 × 6/100 × 2/12 = 380
Q63. REALISATION ACCOUNT
Particulars Amt. Particulars Amt.
Sundry Assets : Creditors 1,50,000
Debtors 3,40,000 Bank A/c (Debtors) 3,23,000
Stock 1,50,000 Hanif's Current A/c (Stock) 67,500
Furniture 4,60,000 Bank A/c (Remaining Stock) 65,000
Machinery 8,20,000 17,70,000 Jubed's Current A/c (Furniture) 1,35,000
Bank A/c (Creditors) 1,50,000 Bank A/c (Machinery) 74,000
Hanif's Current A/c (Real. Exps.) 8,000 Loss transferred to :
Hanif's Current A/c 7,42,333
Jubed's Current A/c 3,71,167 11,13,500
19,28,000 19,28,000
Alternate : If Only Capital Accounts are prepared and Current Account is not maintain then Current Account Balances
direct transfer to Capital Accounts and undistributed profits/losses, reserves and realisation gain (profit)/ loss trans-
ferred to Capital Accounts.

Q64. REALISATION ACCOUNT

Particulars Amt. Particulars Amt.
Sundry Assets : Sundry Liabilities :
Land 1,20,000 Creditors 65,000
Machinery 65,000 Bills Payable 35,000 1,00,000
Goodwill 10,000 Cash A/c (Assets Realised)
Stock 25,000 Land 96,000
Debtors 20,000 2,40,000 Machinery 35,000
Ram's Capital A/c (Creditors) 55,250 Stock 18,750
Shyam's Capital A/c (B/P) 35,000 Debtors 12,500 1,62,250
Shyam's Cap. A/c (Real. Exps.) 1,750 Loss transferred to :
Ram's Cap. A/c 27,900
Shyam's Cap. A/c 41,850 69,750
3,32,000 3,32,000

PARTNER'S CAPITAL ACCOUNTS

Particulars Ram Shyam Particulars Ram Shyam
Realisation A/c (Loss) 27,900 41,850 Balance b/d 75,000 75,000
Cash A/c (Final Payment) 1,02,350 69,900 Realisation A/c 55,250 36,750
1,30,250 1,11,750 1,30,250 1,11,750

CASH ACCOUNT
Particulars Amt. Particulars Amt.
Balance b/d 10,000 Ram's Capital A/c 1,02,350
Real. A/c (Assets Realised) 1,62,250 Shyam's Capital A/c 69,900

1,72,250 1,72,250

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Q65. REALISATION ACCOUNT
Particulars Amt. Particulars Amt.
Sundry Assets : Sundry Liabilities :
Land & Building 40,000 S. Creditors 20,000
Furniture & Fitting 28,000 Bills Payable 40,000 60,000
Truck 20,000 Cash A/c (Assets Realised)
Stock 10,000 Debtors 9,000
Debtors 12,000 1,10,000 Furniture & Fitting 26,000
Ramesh's Cap. A/c (Creditors) 20,000 Stock 6,000
Suresh's Cap. A/c (B/P) 40,000 Truck 32,000
Ramesh's Cap. A/c (Real. exp) 1,200 Land & Building 60,000 1,33,000
Cash A/c (W.C. Claim) 15,000 W. C. Reserve 10,000
Profit transferred to :
Ramesh's Cap. A/c 8,400
Suresh's Cap. A/c 8,400 16,800
2,03,000 2,03,000

PARTNER'S CAPITAL ACCOUNTS

Particulars Ramesh Suresh Particulars Ramesh Suresh
Profit and Loss A/c 5,000 5,000 Balance b/d 30,000 30,000
Bank A/c 54,600 73,400 Realisation A/c 20,000 40,000
(Final Payment) Realisation A/c 1,200 –
Realisation A/c(Profit) 8,400 8,400
59,600 78,400 59,600 78,400

CASH ACCOUNT
Particulars Amt. Particulars Amt.
Balance b/d 10,000 Realisation A/c (W.C.Claim) 15,000
Real. A/c (Assets Realised) 1,33,000 Ramesh's Capital A/c 54,600
Suresh's Capital A/c 73,400
1,43,000 1,43,000
Q66. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Debtors A/c 27,000 By Sundry Creditors A/c 80,000
To Stock A/c 50,000 By Shivika's Sister's Loan A/c 20,000
To Furniture A/c 2,20,000 By Parth's Capital A/c (Furniture) 88,000
To Bank A/c (Sundry Creditors) 80,000 By Bank A/c : (Assets Realised)
To Bank A/c (Shivika's Sister's Loan + Interest) 22,000 Furniture 1,05,000
To Bank A/c (Realisation Expenses) 5,000 Debtors 20,000 1,25,000
By Bank A/c (Bad Debts Recovered) 6,000
By Shivika's Capital A/c (Stock) 29,000
By Loss Transfer to :
Parth's Capital A/c 33,600
Shivika's Capital A/c 22,400 56,000
4,04,000 4,04,000
PARTNER'S CAPITAL ACCOUNT
Particulars Parth Shivika Particulars Parth Shivika
To Deferred Revenue Expenditure A/c 3,000 2,000 By Balance b/d 1,75,000 1,94,000
To Realisation A/c (Furniture) 88,000 — By Profit and Loss A/c 3,000 2,000
To Realisation A/c (Stock) — 29,000
To Realisation A/c (Loss) 33,600 22,400
To Bank A/c (Final Payment) 53,400 1,42,600
1,78,000 1,96,000 1,78,000 1,96,000

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 BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 1,72,000 By Realisation A/c (Creditors) 80,000
To Realisation A/c (Assets Realised) 1,25,000 By Realisation A/c (Loan + Interest) 22,000
To Realisation A/c (Bad Debts Recovered) 6,000 By Realisation A/c (Realisation Expenses) 5,000
By Parth's Capital A/c 53,400
By Shivika's Capital A/c 1,42,600
3,03,000 3,03,000

Q67. Missing Figures given in Bottom.

Q68. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Stock A/c 70,000 By Creditors A/c 3,60,000
To Investments A/c 1,00,000 By Mrs. Vinit's Loan A/c 60,000
To Debtors A/c 2,00,000 By Investment Fluctuation Fund 30,000
To Fixed Assets A/c 3,80,000 By Provision for doubtful debts 20,000
To Vinit's Capital A/c (Mrs. Vinit's Loan) 60,000 By Vinit's Capital A/c (Stock) 56,000
To Bank A/c (Creditors) 3,50,000 By Yogesh's Capital A/c (Investments) 81,000
To Vinit's Capital A/c (Realisation Expenses) 2,000 By Bank A/c : (Assets Realised)
Debtors (47,500 + 1,50,000) 1,97,500
Fixed Assets 2,82,000
Investmetns Remaining 7,500 4,87,000
By Yogesh's Capital A/c (Furniture) 4,000
By Loss Transfer to :
Vinit's Capital A/c 32,000
Yogesh's Capital A/c 32,000 64,000
11,62,000 11,62,000
PARTNER'S CAPITAL ACCOUNT
Particulars Vinit Yogesh Particulars Vinit Yogesh
To Profit & Loss A/c 20,000 20,000 By Balance b/d 2,00,000 1,00,000
To Realisation A/c (Stock) 56,000 — By Realisation A/c (Mrs. Vinit's Loan) 60,000 —
To Realisation A/c (Investments) — 81,000 By Realisation A/c (Realisation Exps.) 2,000 —
To Realisation A/c (Furniture) — 4,000 By Bank A/c (Amount brought in) — 37,000
To Realisation A/c (Loss) 32,000 32,000
To Bank A/c (Final Payment) 1,54,000 —
2,62,000 1,37,000 2,62,000 1,37,000

BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 80,000 By Yogesh's Loan A/c 1,00,000
To Realisation A/c (Assets Realised) 4,87,000 By Realisation A/c (Creditors) 3,50,000
To Yogesh's Capital A/c (Amt. brought in) 37,000 By Vinit's Capital A/c (Final Payment) 1,54,000
6,04,000 6,04,000

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Q69. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Debtors A/c 1,70,000 By Creditors A/c 60,000
To Stock A/c 1,50,000 By Arnab's Brother's Loan A/c 95,000
To Investments A/c 2,50,000 By Provision for doubtful debts 30,000
To Building A/c 3,00,000 By Investment Fluctuation Fund 50,000
To Goodwill A/c 10,000 By Bank A/c : (Assets Realised)
To Arnab's Capital A/c (Brother's Loan) 95,000 Stock 60,000
To Bank A/c (Creditors) 54,000 Investments 2,00,000
To Dhrupad's Capital A/c (Realisation Exps.) 3,000 Building 3,50,000 6,10,000
By Ragini's Capital A/c (Stock) 60,000
By Loss Transfer to :
Arnab's Capital A/c 76,200
Ragini's Capital A/c 25,400
Dhrupad's Capital A/c 25,400 1,27,000
10,32,000 10,32,000

PARTNER'S CAPITAL ACCOUNT

Particulars Arnab Ragini Dhrupad Particulars Arnab Ragini Dhrupad

To Profit & Loss A/c 30,000 10,000 10,000 By Balance b/d 2,75,000 2,00,000 1,70,000
To Realisation A/c (Stock) — 60,000 — By Realisation A/c (Brother's Loan) 95,000 — —
To Realisation A/c (Loss) 76,200 25,400 25,400 By Realisation A/c (Real. Exps.) — — 3,000
To Bank A/c (Final Payment) 2,63,800 1,04,600 1,37,600
3,70,000 2,00,000 1,73,000 3,70,000 2,00,000 1,73,000

BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 50,000 By Dhrupad's Loan A/c 1,00,000
To Realisation A/c (Assets Realised) 6,10,000 By Realisation A/c (Creditors) 54,000
By Arnab's Capital A/c 2,63,800
By Ragini's Capital A/c 1,04,600
By Dhrupad's Capital A/c 1,37,600
6,60,000 6,60,000
Q70. REALISATION ACCOUNT
Particulars Amount Particulars Amount
Sundry Assets : Provision for D/D 6,000
Debtors 42,000 Sundry Creditors 60,000
Stock 12,000 Investment Fluctuation Fund 2,000
Investments 18,000 Cash A/c (Assets Realised)
Plant and Machinery 3 9 , 0 0 0 1,11,000 Debtors 37,800
Cash A/c (Creditors) 2 4 , 9 0 0 Investments 14,400 52,200
Riya's Loan A/c (Interest) 5 0 0 Riya's Capital A/c (Stock Taken) 7,000
Diya's Capital A/c (Expenses) 6 0 0 Loss transferred to :
Riya's Cap. A/c 4,900
Diya's Cap. A/c 4,900 9,800
1,37,000 1,37,000

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 RIYA'S LOAN ACCOUNT
Particulars Amount Particulars Amount
To Cash A/c 1 5 , 5 0 0 By Balance b/d 15,000
By Realisation A/c (Interest) 500
15,500 15,500

DIYA'S LOAN ACCOUNT

Particulars Amount Particulars Amount
To Balance b/d 2,000 By Cash A/c 2,000
2,000 2,000
PARTNER'S CAPITAL ACCOUNT
Particulars Riya Diya Particulars Riya Diya
Realisation A/c (Stock) 7,000 – Balance b/d 30,000 10,000
Realisation A/c (Loss) 4,900 4,900 General Reserve A/c 7,500 7,500
Cash A/c 25,600 13,200 Realisation A/c(Exps.) – 600
(Final Payment)
37,500 18,100 37,500 18,100
CASH ACCOUNT
Particulars Amount Particulars Amount
Balance b/d 25,000 Realisation A/c (Creditors) 24,900
Real. A/c (Assets Realised) 52,200 Riya's Loan A/c 15,500
Diya's Loan A/c 2,000 Riya's Capital A/c 25,600
Diya's Capital A/c 13,200
79,200 79,200
Q71. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Sundry Assets : By Sundry Liabilities :
Debtors 55,000 Creditors 80,000
Stock 78,000 Bank Overdraft 50,000
Investments 89,000 Girija's Brother's Loan 77,000
Buildings 2,50,000 Investment Fluctuation Fund 15,000
Goodwill 8,000 4,80,000 Provision for Doubtful Debts 10,000 2,32,000
To Girija's Capital A/c (Girija's Brother's Loan) 77,000 By Bank A/c (Assets Realised) :
To Bank A/c (Liabilities Paid) : Debtors 49,000
Creditors 3,000 Buildings (1,80,000 – 8,000) 1,72,000
Bank Overdraft 50,000 53,000 Investments 80,000 3,01,000
To Ganesh's Capital A/c (Commission) 17,000 By Ganesh's Capital A/c (Stock) 4,000
By Loss trf. to :
Girija's Capital A/c 36,000
Ganesh's Capital A/c 54,000 90,000
6,27,000 6,27,000
PARTNER'S CAPITAL ACCOUNT
Particulars Girija Ganesh Particulars Girija Ganesh
To Profit and Loss A/c 4,000 6,000 By Balance b/d 1,50,000 1,00,000
To Realisation A/c (Stock) – 4,000 By Realisation A/c (Brother's Loan) 77,000 –
To Girija's Capital A/c (Dissolution Exps.) – 5,000 By Realisation A/c (Commission) – 17,000
To Realisation A/c (Loss) 36,000 54,000 By Ganesh's Cap. A/c (Dissolution Exps.) 5,000 –
To Bank A/c 1,92,000 48,000
2,32,000 1,17,000 2,32,000 1,17,000

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 BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 20,000 By Realisation A/c (Liabilities Paid) 53,000
To Realisation A/c (Assets Realised) 3,01,000 By Ganesh's Loan A/c 28,000
By Capitals :
Girija 1,92,000
Ganesh 48,000 2,40,000
3,21,000 3,21,000
Q72. REALISATION ACCOUNT
Particulars Amount Particulars Amount
To Sundry Assets : By Sundry Liabilities :
Debtors 48,400 Creditors 11,500
Stock-in-Trade 16,000 Loan 3,500
Furniture 2,000 Prov. for Doubtful Debts 8,400 23,400
Sundry Assets 34,000 By Michael's Capital A/c :
Goodwill 6,000 1,06,400 Furniture 2,600
To Michael's Capital A/c (Creditors) 10,000 Debtors 34,400 37,000
To John's Capital A/c : By Jackson's Capital A/c :
Loan 3,500 Stock-in-Trade 14,000
Dissolution Expenses 600 4,100 Sundry Assets 28,800 42,800
To Bank A/c (Remaining Creditors) 1,500 By John's Cap. A/c (Remaining S. Assets) 1,800
By Bank A/c (Remaining Debtors) 4,200
By Loss trf. to :
Michael's Capital A/c 7,680
Jackson's Capital A/c 2,560
John's Capital A/c 2,560 12,800
1,22,000 1,22,000

PARTNER'S CAPITAL ACCOUNT

Particulars Michael Jackson John Particulars Michael Jackson John

To Realisation A/c 37,000 42,800 1,800 By Balance b/d 50,000 25,000 14,000
To Realisation A/c (Loss) 7,680 2,560 2,560 By Realisation A/c 10,000 –– 4,100
To Bank A/c (Final Payment) 15,320 –– 13,740 By Bank A/c (Amt. Brought in) –– 20,360 ––
60,000 45,360 18,100 60,000 45,360 18,100

BANK ACCOUNT
Particulars Amount Particulars Amount
To Balance b/d 6,000 By Realisation A/c 1,500
To Realisation A/c 4,200 By Capitals :
To Jackson's Capital A/c (Amt. Brought) 20,360 Michael 15,320
John 13,740 29,060
30,560 30,560

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Q73. REALISATION ACCOUNT
Particulars Amount Particulars Amount
Sundry Assets : Provision for D/D 12,000
Furniture 60,000 Creditors 1,60,000
Land & Building 86,000 Bills Payable 50,000
Stock 1,60,000 Bank A/c (Bad Debts Recovered) 1,000
Debtors 1,32,000 Rohit's Cap. A/c (Stock Taken) 64,000
Goodwill 30,000 Bank A/c (Assets Realised)
Prepaid Insurance 2,000 4,70,000 Remaining Stock 1,04,000
Bank A/c (Half Creditors) 10,000 Debtors 96,000
Bank A/c (Remaining Half Creditors) 72,000 Land & Building 1,72,000 3,72,000
Bank A/c (Real. Exps.) 10,000
Bank A/c (Contingent Liab.) 2,000
Bank A/c (Bills Payable) 50,000
Profit transferred to :
Rohit's Cap. A/c 27,000
Mohit's Cap. A/c 18,000 45,000
6,59,000 6,59,000

MOHIT'S LOAN ACCOUNT

Particulars Amount Particulars Amount
To Bank A/c 30,000 By Balance b/d 30,000
30,000 30,000

ROHIT'S LOAN ACCOUNT

Particulars Amount Particulars Amount
To Balance b/d 20,000 By Bank A/c 20,000
20,000 20,000

PARTNER'S CAPITAL ACCOUNT

Particulars Rohit Mohit Particulars Rohit Mohit
Def. Rev. Expenditure A/c 12,000 8,000 Balance b/d 1,80,000 60,000
Realisation A/c (Stock) 64,000 – Reserve Fund A/c 54,000 36,000
Bank A/c (Final Payment) 1,85,000 1,06,000 Realisation A/c(Profit) 27,000 18,000
2,61,000 1,14,000 2,61,000 1,14,000

BANK ACCOUNT
Particulars Amount Particulars Amount
Balance b/d 72,000 Loan by Mohit A/c 30,000
Loan to Rohit A/c 20,000 Realisation A/c (Half Creditors) 10,000
Real. A/c (Bad Debts Recovered) 1,000 Realisation A/c (Remaining Half Crs.) 72,000
Real. A/c (Assets Realised) 3,72,000 Realisation A/c (Real. Exps.) 10,000
Realisation A/c (Contingent Liab.) 2,000
Realisation A/c (Bills Payable) 50,000
Rohit's Capital A/c 1,85,000
Mohit's Capital A/c 1,06,000
4,65,000 4,65,000

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