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M.194 An Aid to Accountancy—CBSE XII

4. Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `
To Balance b/d 75,000 By Raghu’s Capital A/c 51,000
To Rishabh’s Capital A/c 50,000 By Rishu’s Capital A/c 81,900
To Premium for Goodwill A/c 10,500 By Balance c/d 2,600
1,35,500 1,35,500

Or

Dr. REVALUATION ACCOUNT Cr.
Particulars ` Particulars `
To Machinery A/c 1,80,000 By Land and Building A/c 1,20,000
To Bad Debts A/c (WN 1) 10,000 By Loss transferred to:
Kusum’s Capital A/c 20,000
Sneh’s Capital A/c 30,000
Usha’s Capital A/c 20,000 70,000
1,90,000 1,90,000

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars Kusum Sneh Usha Particulars Kusum Sneh Usha
` ` ` ` ` `
To Revaluation A/c 20,000 30,000 20,000 By Balance b/d 4,00,000 6,00,000 4,00,000
(Loss) By Workmen Compensa-
To Kusum’s Capital A/c ... ... 80,000 tion Reserve A/c 4,000 6,000 4,000
(Goodwill) By Usha’s Capital A/c 80,000 ... ...
To Bank A/c 1,00,000 ... ... By Bank A/c (Bal. Fig.) ... 24,000 4,96,000
To Kusum’s Loan A/c 3,64,000 ... ...
(Bal. Fig.)
To Balance c/d (WN 4) ... 6,00,000 8,00,000
4,84,000 6,30,000 9,00,000 4,84,000 6,30,000 9,00,000

BALANCE SHEET OF THE NEW FIRM
as at 31st March, 2018
Liabilities ` Assets `
Capital A/cs: Land and Building 5,20,000
Sneh 6,00,000 Machinery 4,20,000
Usha 8,00,000 14,00,000 Closing Stock 2,00,000
Kusum’s Loan A/c 3,64,000 Sundry Debtors 1,90,000
Employees’ Provident Fund 70,000 Cash at Bank (WN 3) 6,20,000
Workmen Compensation Claim 16,000
Sundry Creditors 1,00,000
19,50,000 19,50,000