Complete the Following Table
1) | Debit side total of Realisation A/c | Credit side total of Realisation A/c | Loss on Realisations |
₹ 20,000 | ___________? | ₹ 4,000 | |
2) | Creditors | Bills Payable | Third-Party Liabilities |
₹ 16,000 | ₹ 12,000 | ___________? | |
3) | Credit side total Profit ion of Realisation A/c | Debit side total of Realisation A/c | Profit of realisation |
₹ 21,000 | ₹ 16,000 | ___________? | |
4) | Debit side total of Capital A/c | Credit side total of Capital A/c | Cash brought by partner |
₹ 51,000 | __________? | ₹ 17,000 | |
5) | capital deficiency | Cash brought by Insolvent Partner | Insolvent loss |
________? | ₹ 7,000 | ₹ 21,000 |
Solution:
1) | Debit side total of Realisation A/c | Credit side total of Realisation A/c | Loss on Realizations |
₹ 20,000 | ₹ 16,000 | ₹ 4,000 | |
2) | Creditors | Bills Payable | Third-Party Liabilities |
₹ 16,000 | ₹ 12,000 | ₹ 28,000 | |
3) | Credit side total Profit ion of Realisation A/c | Debit side total of Realisation A/c | Profit of realisation |
₹ 21,000 | ₹ 16,000 | ₹ 5,000 | |
4) | Debit side total of Capital A/c | Credit side total of Capital A/c | Cash brought by partner |
₹ 51,000 | ₹ 34,000 | ₹ 17,000 | |
5) | capital deficiency | Cash brought by Insolvent Partner | Insolvent loss |
₹ 28,000 | ₹ 7,000 | ₹ 21,000 |