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M.16 An Aid to Accountancy—CBSE XII

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars Ram (`) Shyam (`) Particulars Ram (`) Shyam (`)
To Realisation A/c (Loss) 27,900 41,850 By Balance b/d 75,000 75,000
To Bank A/c (Final Payment) 1,02,350 69,900 By Realisation A/c 55,250 35,000
By Realisation A/c (Expenses) ... 1,750
1,30,250 1,11,750 1,30,250 1,11,750

Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `
To Balance b/d 10,000 By Ram’s Capital A/c 1,02,350
To Realisation A/c (Assets Realised) 1,62,250 By Shyam’s Capital A/c 69,900
1,72,250 1,72,250

15. INCOME AND EXPENDITRE ACCOUNT
Dr. for the year ended 31st March, 2018 Cr.
Expenditure ` Income `
To Match Expenses 900 By General Donations 20,000
To Salaries 10,000 By Receipts from Matches 16,000
Add: Outstanding (31.3.2018) 800 10,800 By Subscription 10,400
To Insurance 700 Less: Outstanding (31.3.2017) 200
To Sundry Expenses 1,940 10,200
Add: Outstanding (31.3.2018) 600 2,540 Add: Outstanding (31.3.2018) 1,380 11,580
To Surplus, i.e., Excess of Income over By Lockers’ Rent 800
Expenditure 42,240 By Interest on Investments (Note) 2,400
By Gain (Profit) on Sale of Furniture 400
By Entrance Fees 6,000
57,180 57,180

Note: Calculation of Accrued Interest: `
Ê 9 10 ˆ
Interest on Investments Á ` 32,000 ¥ ¥ ˜ 2,400
Ë 12 100 ¯
Less: Received during the year 480
Accrued Interest 1,920
16.
Dr. REVALUATION ACCOUNT Cr.
Particulars ` Particulars `
To Provision for Doubtful Debts A/c 1,000 By Creditors A/c 6,000
To Stock A/c 1,800 By Prepaid Insurance A/c 3,400
To Furniture A/c 1,500
To Outstanding Claim for Damages A/c 1,100
To Machinery A/c 3,400
To Gain (Profit) transferred to:
A’s Capital A/c 300
B’s Capital A/c 200
C’s Capital A/c 100 600
9,400 9,400