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प्रश्न
A, B and C were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2024 was as follows:
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Creditors | 20,000 | Cash & Bank | 30,000 | ||
| Bills Payable | 5,000 | Debtors | 60,000 | ||
| General Reserve | 40,000 | Stock | 1,50,000 | ||
| Workmen Compensation Reserve | 35,000 | Investments (Market Value ₹ 32,000) | 40,000 | ||
| Investment Fluctuation Reserve | 10,000 | Plant & Machinery | 2,60,000 | ||
| Capital Accounts: | 4,50,000 | Profit & Loss Account | 20,000 | ||
| A | 2,00,000 | ||||
| B | 1,50,000 | ||||
| C | 1,00,000 | ||||
| 5,60,000 | 5,60,000 |
They admit D into partnership for `1/4`th share on 1st April, 2024. Give necessary journal entries to adjust the accumulated profits and losses.
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उत्तर
| Journal Entry | ||||
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| 2024 | ||||
| Apr 1 | General Reserve A/c ...Dr. | 40,000 | ||
| Workmen Compensation Reserve A/c ...Dr. | 35,000 | |||
| Investments Fluctuation Reserve A/c ...Dr. | 10,000 | |||
| To Investments A/c | 8,000 | |||
| To A’s Capital A/c | 30,800 | |||
| To B’s Capital A/c | 30,800 | |||
| To C’s Capital A/c | 15,400 | |||
| (Being accumulated profits transferred to old partners and loss on investment adjusted) | ||||
| Apr 1 | A’s Capital A/c ...Dr. | 8,000 | ||
| B’s Capital A/c | 8,000 | |||
| C’s Capital A/c | 4,000 | |||
| To Profit & Loss A/c | 20,000 | |||
| (Accumulated loss transferred to old partners) | ||||
Working Note:
Profit & Loss Account (Debit Balance) = ₹ 20,000 (Loss)
General Reserve = ₹ 40,000
Workmen Compensation Reserve = ₹ 35,000
Remaining Investments Fluctuation Reserve = ₹ 2,000
Total Accumulated Profits = 40,000 + 35,000 + 2,000
= 77,000
The accumulated profits of ₹ 77,000 will be distributed among the old partners A, B, and C in their old profit-sharing ratio of 2 : 2 : 1.
A’s share = `77,000 xx 2/5`
= 30,800
B’s share = `77,000 xx 2/5`
= 30,800
C’s share = `77,000 xx 1/5`
= 15,400
Distribute Accumulated Losses:
A’s share = `20,000 xx 2/5`
= 8,000
B’s share = `20,000 xx 2/5`
= 8,000
C’s share = `20,000 xx 1/5`
= 4,000
