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प्रश्न
Hima, Zoya and Bhanu were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They decided to dissolve the firm on 1st April, 2025. Their Balance Sheet as at 31.3.2025 was as follows.
| Balance Sheet of Hima, Zoya and Bhanu As at 31.3.2025 |
|||
| LIABILITIES | ₹ | ASSETS | ₹ |
| Capital: Hima | 50,000 | Plant | 48,000 |
| Zoya | 80,000 | Furniture | 22,000 |
| Workmen’s Compensation Reserve | 15,000 | Investment | 33,000 |
| Investment fluctuation reserve | 22,000 | Stock | 25,000 |
| Trade Creditors | 28,000 | Debtors | 17,000 |
| Hima’s Loan | 12,000 | Cash at bank | 32,000 |
| Bhanu’s capital | 30,000 | ||
| 2,07,000 | 2,07,000 | ||
Additional information:
- Stock was taken by Zoya at 75% of the book value.
- Some trade creditors took over furniture at a reduced value of ₹ 18,000 and the remaining creditors were paid by cheque.
- Plant was realised at 10% less than the book value and one debtor from whom ₹ 2,000 were due could not pay anything.
- An unrecorded liability was settled for ₹ 7,500.
You are required to:
- Prepare Realisation A/c (4)
- Calculate the final settlement with the partners. (2)
खातेवही
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उत्तर
i.
| Dr. | Realisation A/c | Cr. | |
| Particulars | ₹ | Particulars | ₹ |
| To Plant | 48,000 | By Investment fluctuation reserve | 22,000 |
| To Furniture | 22,000 | By Trade Creditors | 28,000 |
| To Investment | 33,000 | By Zoya’s Capital A/c (Stock) | 18,750 |
| To Stock | 25,000 | By Bank - | |
| To Debtors | 17,000 | Plant | 43,200 |
| To Bank A/c - | Debtors | 15,000 | |
| Creditors | 10,000 | Investment | 33,000 |
| Unrecorded liability | 7,500 | By Hima’s Capital A/c | 1,275 |
| By Zoya’s Capital A/c | 765 | ||
| By Bhanu’s Capital A/c | 510 | ||
| 1,62,500 | 1,62,500 | ||
ii.
| Particulars | Hima (₹) |
Zoya (₹) |
Bhanu (₹) |
| Opening Capital | 50,000 | 80,000 | (30,000) |
| Workmen’s compensation reserve | 7,500 | 4,500 | 3,000 |
| Realisation - stock taken | (18,750) | ||
| Loss on realisation | (1,275) | (765) | (510) |
| 56,225 | 64,985 | (27,510) |
Hima & Zoya will get ₹ 56,225 and ₹ 64,985 as final payment respectively; Bhanu will bring ₹ 27,510.
Working Note:
Calculation of stock taken by Zoya:
Value taken = ₹ 25,000 × 75%
= ₹ 18,750
Realisation of Debtors:
Total debtors = ₹ 17,000
Amount realised = ₹ 17,000 − ₹ 2,000
= ₹ 15,000
Distribution of Loss on Realisation:
Given loss = ₹ 2,550
Profit sharing ratio = 5 : 3 : 2
Hima = 2,550 × `5/10`
= ₹ 1,275
Zoya = 2,550 × `3/10`
= ₹ 765
Bhanu = 2,550 × `2/10`
= ₹ 510
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