Page 136 - ISCDEBK-12

6.10 Double Entry Book Keeping (Section A)—ISC XII

Dr. REALISATION ACCOUNT Cr.
Particulars ` Particulars `
To Sundry Assets (Transfer): By Provision for Doubtful Debts A/c 2,000
Debtors A/c 20,000 By Creditors A/c 25,000
Stock A/c 25,200 By Bills Payable A/c 10,000
Investments A/c 20,000 By Mrs. Prakash’s Loan A/c 5,000
Bills Receivable A/c 8,000 By Bank A/c (Assets Realised):
Machinery A/c 60,000 Stock 20,200
Goodwill A/c 6,000 1,39,200 Debtors 15,000
To Kiran’s Capital A/c (Bills Payable) 10,000 Machinery 40,000
To Prakash’s Capital A/c: Investments 18,000
Contingent Liability 8,000 Goodwill 5,000 98,200
Mrs. Prakash’s Loan 5,000 13,000 By Kiran’s Capital A/c (Bills Receivable) 7,000
To Bank A/c (Creditors) 22,500 By Bank A/c (Unrecorded Asset) 1,200
To Kiran’s Capital A/c (Expenses) 2,100 By Loss transferred to:
Prakash’s Capital A/c 19,200
Kiran’s Capital A/c 12,800
Rishab’s Capital A/c 6,400 38,400
1,86,800 1,86,800

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars Prakash Kiran Rishab Particulars Prakash Kiran Rishab
` ` ` ` ` `

To Balance b/d ... ... 11,000 By Balance b/d 60,000 40,000 ...
To Realisation A/c 19,200 12,800 6,400 By Workmen Compen-
(Loss) sation Fund A/c 1,500 1,000 500
To Profit and Loss A/c 9,900 6,600 3,300 By General Reserve A/c 13,500 9,000 4,500
(Loss) By Realisation A/c:
To Realisation A/c (B/R) ... 7,000 ... Contingent Liability 8,000 ... ...
To Bank A/c (Bal. Fig.) 58,900 35,700 ... Mrs. Prakash’s Loan 5,000 ... ...
(Final Payment) Realisation Exp. ... 2,100 ...
Bills Payable ... 10,000 ...
By Bank A/c (Bal. Fig.) ... ... 15,700
(Cash Brought in)
88,000 62,100 20,700 88,000 62,100 20,700

Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `

To Balance b/d 2,000 By Realisation A/c (Creditors) 22,500
To Realisation A/c (Assets Realised) 98,200 By Prakash’s Capital A/c (Final Payment) 58,900
To Realisation A/c (Unrecorded Asset Realised) 1,200 By Kiran’s Capital A/c (Final Payment) 35,700
To Rishab’s Capital A/c (Cash Brought in) 15,700
1,17,100 1,17,100