question_answer
A, B and C were partners in a firm sharing profits in the ratio of 2 : 2 : 1. On 28th February, 2017, their firm was dissolved. From the following information, complete realisation account, partners' capital accounts and cash account. Dr Realisation Account Cr
Particulars |
Amt (Rs.) |
Particulars |
Amt (Rs.) |
To Sundry Assets A/c |
2,60,000 |
By Creditors |
1,60,000 |
To A?s Capital A/c (Creditors) |
1,50,000 |
By C's Capital A/c (Sundry assets) |
1,30,000 |
To B?s Capital A/c |
10,000 |
By ... |
... |
(Realisation Expenses) |
|
|
|
|
4,20,000 |
|
4,20,000 |
Dr Partners? Capital Account Cr
Particulars |
A (Rs.) |
B (Rs.) |
C (Rs.) |
Particulars |
A (Rs.) |
B (Rs.) |
C (Rs.) |
To Balance b/d |
- |
- |
46,000 |
By Balance b/d |
1,50,000 |
10,000 |
- |
To ??. |
. |
. |
. |
By Realisation A/c |
- |
- |
- |
To Realisation A/c |
- |
- |
1,30,000 |
By Cash A/c |
- |
32,000 |
2,02,000 |
(Assets) |
|
- |
- |
(Cash brought in) |
|
|
|
To Cash A/c |
2,48,000 |
- |
- |
|
|
|
|
(Final Payment) |
|
|
|
|
|
|
|
|
3,00,000 |
52,000 |
2,02,000 |
|
3,00,000 |
52,000 |
2,02,000 |
Dr Cash Account Cr
Particulars |
Amt (Rs.) |
Particulars |
Amt (Rs.) |
To Balance b/d |
14,000 |
By......... |
... |
To .... |
... |
|
|
To .... |
... |
|
|
|
2,48,000 |
|
2,48,000 |
Answer:
Dr Realisation Account Cr
Particulars |
Amt (Rs.) |
Particulars |
|
Amt (Rs.) |
To Sundry Assets A/c |
2,60,000 |
By Creditors |
|
1,60,000 |
To A's Capital A/c (Creditors) |
1,50,000 |
By C's Capital A/c (Sundry assets) |
|
1,30,000 |
To B's Capital A/c |
10,000 |
By Loss Transferred to |
|
|
|
|
A's Capital A/c |
52,000 |
|
|
|
B's Capital A/c |
52,000 |
|
|
|
C's Capital A/c |
26,000 |
1,30,000 |
|
4,20,000 |
|
|
4,20,000 |
Dr Partners? Capital Account Cr
Particulars |
A (Rs.) |
B (Rs.) |
C (Rs.) |
Particulars |
A (Rs.) |
B (Rs.) |
C (Rs.) |
To Balance b/d |
- |
- |
46,000 |
By Balance b/d |
1,50,000 |
10,000 |
- |
To Realisation A/c (Loss) |
52,000 |
52,000 |
26,000 |
By Realisation A/c |
1,50,000 |
10,000 |
- |
To Realisation A/c |
- |
- |
1,30,000 |
By Cash A/c |
- |
32,000 |
2,02,000 |
(Assets) |
|
|
|
|
|
|
|
To Cash A/c |
2,48,000 |
- |
- |
|
|
|
|
(Final Payment) |
|
|
|
|
|
|
|
|
3,00,000 |
52,000 |
2,02,000 |
|
3,00,000 |
52,000 |
2,02,000 |