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प्रश्न
Rita and Sobha are partners in a firm, Fancy Garments Exports, sharing profits and losses equally. On 1st April, 2019, the Balance Sheet of the firm was:
| Liabilities | ₹ | ₹ | Assets | ₹ | ₹ |
| Sundry Creditors | 75,000 | Cash | 6,000 | ||
| Bills Payable | 30,000 | Bank | 30,000 | ||
| Rita's Loan | 15,000 | Stock | 75,000 | ||
| Reserve | 24,000 | Book Debts | 66,000 | 60,000 | |
| Capital A/cs: | 1,20,000 | Less: Provision for Doubtful Debts | 6,000 | ||
| Rita | 90,000 | Plant and Machinery | 45,000 | ||
| Sobha | 30,000 | Land and Building | 48,000 | ||
| 2,64,000 | 2,64,000 |
The firm was dissolved on the date given above. The following transactions took place:
- Rita took 25% of the Stock at a discount of 20% in settlement of her loan.
- Book Debts realised ₹ 54,000; balance of the Stock was sold at a profit of 30% on cost.
- Sundry Creditors were paid out at a discount of 10%. Bills Payable were paid in full.
- Plant and Machinery realised ₹ 75,000. Land and Building ₹ 1,20,000.
- Rita took the goodwill of the firm at a value of ₹ 30,000.
- An unrecorded asset of ₹ 6,900 was handed over to an unrecorded liability of ₹ 6,000 in full settlement.
- Realisation expenses were ₹ 5,250.
Show Realisation Account, Partners' Capital Accounts and Bank Account in the books of the firm.
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उत्तर
| Dr. | Realisation Account | Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| Stock | 75,000 | Provision for Doubtful Debts | 6,000 | ||
| Book Debts | 66,000 | Sundry Creditors | 75,000 | ||
| Plant and Machinery | 45,000 | Bills Payable | 30,000 | ||
| Land and building | 48,000 | Rita’s Capital A/c (Goodwill taken over) | 30,000 | ||
| Bank A/c: | 1,02,750 | Rita’s Loan A/c (Stock taken over) | 15,000 | ||
| Sundry Creditors | 67,500 | Bank A/c: | 3,22,125 | ||
| Bills Payable | 30,000 | Book Debts | 54,000 | ||
| Expenses | 5,250 | Stock | 73,125 | ||
| Profit transferred to: | 1,41,375 | Plant and Machinery | 75,000 | ||
| Rita’s Capital A/c | 70,688 | Land and Building | 1,20,000 | ||
| Sobha’s Capital A/c | 70,687 | ||||
| 3,22,125 | 3,22,125 | ||||
| Dr. | Partners’ Capital Accounts | Cr. | |||
| Particulars | Rita (₹) | Sobha (₹) | Particulars | Rita (₹) | Sobha (₹) |
| Realisation A/c (Assets) | 30,000 | – | Balance b/d | 90,000 | 30,000 |
| Bank A/c | 1,42,688 | 1,12,687 | Reserve Fund | 12,000 | 12,000 |
| Realisation A/c (Profit) | 70,688 | 70,687 | |||
| 1,72,688 | 1,12,687 | 1,72,688 | 1,12,687 | ||
| Dr. | Rita’s Loan A/c | Cr. | |
| Particulars | Amount (₹) | Particulars | Amount (₹) |
| To Realisation A/c | 15,000 | Balance b/d | 15,000 |
| 15,000 | 15,000 | ||
| Dr. | Bank Account | Cr. | |
| Particulars | Amount (₹) | Particulars | Amount (₹) |
| Balance b/d | 30,000 | Realisation A/c | 1,02,750 |
| Cash A/c | 6,000 | Rita’s Capital A/c | 1,42,688 |
| Realisation A/c | 3,22,125 | Sobha’s Capital A/c | 1,12,687 |
| 3,58,125 | 3,58,125 | ||
Working Notes:
1: Value Of Stock Taken Over by Rita
`"Stock taken over by Rita"= ("Book Value of Stock" xx 25/100 xx 80/100)`
`"Stock taken over by Rita" = ₹(75,000 xx 25/100 xx 80/100) = ₹ 15,000`
2: Value of Stock Sold
Book value of balance of stock sold = Value of stock - Stock taken over by rita
Book Value of Balance of stock sold = ₹ (75,000 - 18,750) = ₹ 56,250
Value of stock sold = ₹ `(56,250 xx130/100) = ₹ 73,123 `[sold at 30%]
