Page 149 - ISCDEBK-12

Dissolution of a Partnership Firm 6.23

Dr. REALISATION ACCOUNT Cr.
Particulars ` Particulars `

To Sundry Assets (Transfer): By Sundry Liabilities (Transfer):
Computer 60,000 Provision for Doubtful Debts 10,000
Furniture 50,000 Sundry Creditors 70,000
Machinery 1,50,000 Mrs. A’s Loan A/c 50,000 1,30,000
Debtors 1,00,000 3,60,000 By Bank A/c (Realisation):
To Bank A/c (Payments): Debtors 95,000
Sundry Creditors 41,500 Machinery 1,30,000 2,25,000
To A’s Capital A/c (Mrs. A’s Loan) 50,000 By A’s Capital A/c (Computer taken) 57,800
To Bank A/c (Workmen Compensation Claim) 10,000 By Loss transferred to:
To B’s Capital A/c 5,000 A‘s Capital A/c 32,220
B’s Capital A/c 21,480 53,700
4,66,500 4,66,500

Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `

To Balance b/d 70,000 By Realisation A/c (Creditors) 41,500
To Realisation A/c: By Realisation A/c (Workemen Comp. Claim) 10,000
Debtors 95,000 By Output CGST A/c 19,827
Machinery 1,30,000 2,25,000 By Output SGST A/c 19,827
To Output CGST A/c 11,700 By A’s Capital A/c 1,49,576
To Output SGST A/c 11,700 By B’s Capital A/c 84,420
To Output CGST A/c 3,375
To Output SGST A/c 3,375
3,25,150 3,25,150

Dr. OUTPUT CGST ACCOUNT Cr.
Particulars ` Particulars `
To Input CGST A/c 450 By Bank A/c (Machine) 11,700
To Bank A/c 19,827 By Bank A/c (Furniture) 3,375
By A’s Capital A/c (Computer) 5,202
20,277 20,277

Dr. OUTPUT SGST ACCOUNT Cr.
Particulars ` Particulars `
To Input SGST A/c 450 By Bank A/c (Machine) 11,700
To Bank A/c 19,827 By Bank A/c (Furniture) 3,375
By A’s Capital A/c (Computer) 5,202
20,277 20,277

Dr. INPUT CGST ACCOUNT Cr.
Particulars ` Particulars `
To B’s Capital A/c 450 By Output CGST A/c 450