Practical Problem 03
In the books of the partnership Firm | |||
Dr Revaluation A/c Cr | |||
Particulars | Amount | Particulars | Amount |
To R.D.D A/c | 10,000 | By Loose Tools A/c | 30,000 |
To Creditors A/c | 10,000 | By Live Stock A/c | 20,000 |
To Partners Capital A/c (Profit) | |||
Ram 15,000 | |||
Madhav 9,000 | |||
Keshav 6,000 | 30,000 | ||
50,000 | 50,000 | ||
Dr Keshav’s Capital A/c Cr | |||
Particulars | Amount | Particulars | Amount |
To Balance c/d | 92,000 | By Bal b/d | 50,000 |
By General Reserve A/c | 5,000 | ||
By Commission A/c (2,000 x 4 Month) | 8,000 | ||
By Goodwill A/c | 20,000 | ||
By Revaluation A/c (Profit) | 6,000 | ||
By Profit & Loss Suspense A/c | 3,000 | ||
92,000 | 92,000 | ||