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M.36 Management Accounting (Section B)—ISC XII

(b)

S. No. Items Major Head Sub-head
(i) Long-term Borrowings Non-current Liabilities Long-term Borrowings
(ii) Trade Payables Current Liabilities Trade Payables
(iii) Provision for Tax Current Liabilities Short-term Provisions
(iv) Patents Non-current Assets Fixed Assets—Intangible Assets
(v) Accrued Income Current Assets Other Current Assets
(vi) Calls-in-Advance Current Liabilities Other Current Liabilities

7.
Dr. REVALUATION ACCOUNT Cr.
Particulars ` Particulars `
To Machinery A/c 60,000 By Land and Building A/c 60,000
To Bad Debts A/c (WN 1) 7,000 By Loss transferred to:
Amal’s Capital A/c 2,000
Bimal’s Capital A/c 3,000
Kamal’s Capital A/c 2,000 7,000
67,000 67,000

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars Amal Bimal Kamal Particulars Amal Bimal Kamal
` ` ` ` ` `

To Goodwill A/c 6,000 9,000 6,000 By Balance b/d 2,00,000 3,00,000 2,00,000
To Advertisement By General Reserve A/c 20,000 30,000 20,000
Expenditure A/c 4,000 6,000 4,000 By Workmen Compen-
To Revaluation A/c (Loss) 2,000 3,000 2,000 Reserve A/c 2,000 3,000 2,000
To Amal’s Capital A/c (WN 2) ... 20,000 20,000 By Bimal’s Capital A/c (WN 2) 20,000 ... ...
To Bank A/c 50,000 ... ... By Kamal’s Capital A/c (WN 2) 20,000 ... ...
To Amal’s Loan A/c 2,00,000 ... ... By Bank A/c (Bal. Fig.) ... 1,05,000 1,10,000
To Balance c/d (WN 3) ... 4,00,000 3,00,000
2,62,000 4,38,000 3,32,000 2,62,000 4,38,000 3,32,000

BALANCE SHEET
(After Amal’s Retirement)
as at 31st March, 2019
Liabilities ` Assets `
Capital A/cs: Land and Building 2,60,000
Bimal 4,00,000 Machinery 2,40,000
Kamal 3,00,000 7,00,000 Closing Stock 1,00,000
Amal’s Loan A/c 2,00,000 Sundry Debtors 93,000
Workmen Compensation Claim 8,000 Cash at Bank (WN 4) 2,65,000
Sundry Creditors 50,000
9,58,000 9,58,000