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प्रश्न
Mike and Ajay are partners sharing profits and losses in proportion to their capitals, which on 31st March, 2019, stood at ₹ 6,00,000 and ₹ 4,00,000 respectively. On this date, the firm had ₹ 1,00,000 in its Workmen Compensation Reserve and its outside liabilities amounted to ₹ 6,00,000, which included Creditors of ₹ 2,00,000 and Bills Payable of ₹ 60,000.
The firm was dissolved on 31st March, 2019, on which date, the assets, apart from Cash of ₹ 70,000, realised ₹ 14,00,000 and the liabilities were discharged as follows:
- Creditors due on 31st May, 2019, were paid off at a discount of 3% per annum.
- Bills Payable were discharged at a rebate of ₹ 1,000.
- Workmen Compensation Claim of ₹ 40,000 was met.
- Expenses of dissolution amounting to ₹ 30,000 were paid.
You are required to prepare:
- Realisation Account.
- Partner’s Capital Accounts.
खाता बही
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उत्तर
| Dr. | Realisation A/c | Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| To Sundry Assets A/c | 16,30,000 | By Sundry Liabilities A/c: | 6,40,000 | ||
| To Cash A/c: | 6,38,000 | Creditors | 2,00,000 | ||
| Creditors | 1,99,000 | Bills Payables | 60,000 | ||
| Bills Payables | 59,000 | Workmen Compensation Reserve | 40,000 | ||
| Workmen Compensation Claim | 40,000 | Other Liabilities | 3,40,000 | ||
| Other Liabilities | 3,40,000 | By Cash A/c (Assets Realised) | 14,00,000 | ||
| To Cash A/c (Exp.) | 30,000 | By Loss on Realisation t/f to Capital A/c: | 2,58,000 | ||
| Mike | 1,54,800 | ||||
| Ajay | 1,03,200 | ||||
| 22,98,000 | 22,98,000 | ||||
| Dr. | Partner’s Capital A/c | Cr. | |||
| Particulars | Mike | Ajay | Particulars | Mike | Ajay |
| To Realisation A/c | 1,54,800 | 1,03,200 | By Balance b/d | 6,00,000 | 4,00,000 |
| To Cash A/c | 4,81,200 | 3,20,800 | By Workmen Compensation Reserve A/c | 36,000 | 24,000 |
| 6,36,000 | 4,24,000 | 6,36,000 | 4,24,000 | ||
Working Note:
(1)
| Memorandum Balance Sheet as at 31st March, 2019 | ||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) |
| Capitals: | 10,00,000 | Cash | 70,000 | |
| Mike | 6,00,000 | Sundry Assets (Balancing figure) | 16,30,000 | |
| Ajay | 4,00,000 | |||
| Workmen Compensation Reserve | 1,00,000 | |||
| Creditors | 2,00,000 | |||
| Bills Payables | 60,000 | |||
| Other Liabilities | 3,40,000 | |||
| 17,00,000 | 17,00,000 | |||
(2)
Discount on Creditors: `2,00,000xx3/100xx2/12`
= ₹ 1,000
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