Practical Problem 07
SOLUTION :
IN THE BOOKS OF FIRM | |||||
Dr Realisation A/c Cr | |||||
Particular | Amt | Amt | Particular | Amt | Amt |
To Sundry Asset | By Sundry Liability : | ||||
Plant | 1,20,000 | Loan | 12,000 | ||
Debtors | 45,000 | Sundry Creditors | 9,000 | 21,000 | |
Stock | 75,000 | 2,40,000 | |||
To saiesh Capital A/c | 12,000 | By Saiesh Capital A/c | 45,000 | ||
(Loan) | (Debtor) | ||||
To Cash/Bank A/c | 8,955 | By Cash/Bank A/c | |||
(Sundy Creditor) | Plant | 1,35,000 | |||
Stock | 72,000 | 2,07,000 | |||
To Partner’s Capital A/c | |||||
(Profit on Realisation) | |||||
Saiesh Capital A/c | 4,818 | ||||
Sumit Capital A/c | 4,818 | ||||
Hemant Capital A/c | 2,409 | 12,045 | |||
3,12,000 | 3,12,000 | ||||
Dr Partner’s Capital A/c Cr | |||||||
Particular | Saiesh | Sumit | Hemant | Particular | Saiesh | Sumit | Hemant |
ToRealisation A/c | 45,000 | By Bal b/d | 90,000 | 60,000 | 30,000 | ||
To BankA/c | 61,818 | 64,818 | 32,409 | By Realisation A/c | 12,000 | ||
By Realisation A/c (Profit) | 4,818 | 4,818 | 2,409 | ||||
1,06,818 | 64,818 | 32,409 | 1,06,818 | 64,818 | 32,409 | ||
Dr Bank A/c Cr | |||||
Particular | Amount | Amount | Particular | Amount | Amount |
To Realisation A/c | 2,07,000 | By Balance b/d (Overdraft) | 39,000 | ||
By Realisation A/c | 8,955 | ||||
By Saiesh Capital A/c | 61,818 | ||||
By Sumit Capital A/c | 64,818 | ||||
By Hemant Capital A/c | 32,409 | ||||
2,07,000 | 2,07,000 | ||||