Advertisements
Advertisements
प्रश्न
G and M were partners in a firm sharing profits and losses in the ratio of 3 : 2. on 31st March 2022, their balance sheet was as follows:
| Balance Sheet of G and M as on 31st March, 2022 | ||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) |
| Creditors | 50,000 | Bank | 75,000 | |
| Outstanding Expenses | 45,000 | Other Current Assets | 4,80,000 | |
| Provision for Doubtful Debts | 5,000 | Machinery | 7,00,000 | |
| 9% Loan | 15,00,000 | Land and Building | 15,00,000 | |
| Capitals: | Patents | 10,000 | ||
| G | 6,00,000 | Profit and Loss Account | 15,000 | |
| M | 7,00,000 | Goodwill | 1,20,000 | |
| Total | 29,00,000 | Total | 29,00,000 | |
On the above date, the firm was dissolved. Other current assets realised 10% less. Land and building and machinery were sold at their book value. 9% loan was discharged with unrecorded interest of ₹1,35,000. Expenses on dissolution amounted to ₹10,000.
Prepare Realisation Account.
खातेवही
Advertisements
उत्तर
| Dr. | Realisation Account | Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| To Assets: | By Liabilities: | ||||
| Other Current Assets | 4,80,000 | 28,10,000 | Creditors | 50,000 | 16,00,000 |
| Machinery | 7,00,000 | Outstanding Expenses | 45,000 | ||
| Land and Building | 15,00,000 | Provision for Doubtful Debts | 5,000 | ||
| Patents | 10,000 | 9% Loan | 15,00,000 | ||
| Goodwill | 1,20,000 | By Cash A/c: | |||
| To Cash A/c: | Other Current Assets | 4,32,000 | 26,32,000 | ||
| Creditors | 50,000 | 17,40,000 | Machinery | 7,00,000 | |
| Outstanding Expenses | 45,000 | Land and Building | 15,00,000 | ||
| 9% Loan | 16,35,000 | By Realisation Loss: | |||
| Diss Expenses | 10,000 | G | 1,90,800 | 3,18,000 | |
| M | 1,27,200 | ||||
| 45,50,000 | 45,50,000 | ||||
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
