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प्रश्न
P, Q and R were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 3. On 31.3.2020 R retired from the firm. On R's retirement the balance sheet of the firm showed sundry debtors at t 3,75,000. It was decided to write off ₹ 5,000 as bad debts and create a provision of 20% on debtors for bad and doubtful debts. Pass necessary journal entries for the above transactions in the books of the firm on R's retirement.
रोजनामा प्रविष्टि
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उत्तर
| Journal Entries | ||||
| Date | Particular | L.F. | Dr. (₹) | Cr. (₹) |
| 1. | Revaluation A/c ...Dr. | 14,250 | - | |
| To Debtors A/c | - | 5,000 | ||
| To Provision for bad debts A/c | - | 9,250 | ||
| (Being writer off bad debts and P.B.D. recorded.) | ||||
| 2. | P's Capital A/c ...Dr. | 5,700 | - | |
| Q's Capital A/c ...Dr. | 4,275 | - | ||
| R's Capital A/c ...Dr. | 4,275 | - | ||
| To Revaluation A/c | - | 14,250 | ||
| (Being loss on revaluation transferred to Partner's Capital A/c) |
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