Answer:
JOURNAL
Working Notes 1. Date Particulars LF Amt (Dr) Amt (Cr) 2017 Cash A/c Dr 47,750 Apr 1 To X?s Capital A/c 33,250 To Z?s Capital A/c 14,500 (Being cash to be paid to Y brought in by X and Z) Apr 1 Y?s Capital A/c Dr 47,750 To Cash A/c 47,750 (Being cash paid to John for his capital)
2. Amount to be Brought in or Withdrawn Particulars Amt (Rs.) Adjusted Capital of X and Z \[(Rs.\,21,500+Rs.\,40,250)\] 61,750 (+) Amount to be Paid to Y 47,750 Total Capital of New Firm 1,09,500
Particulars Nandan (Rs.) Rosa (Rs.) I. New Capital (Rs. 1,09,500 in new ratio, i.e. 1 :1) 54,750 54,750 II. Existing Capitals (21,500) (40,250) III. Cash to be Brought in (Paid off) (I-II) 33,250 14,500
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