Page 306 - AAAXII

M.292 An Aid to Accountancy—CBSE XII

2018
March 31 A’s Capital A/c ...Dr. 2,40,000
B’s Capital A/c ...Dr. 1,60,000
C’s Capital A/c ...Dr. 1,00,000
To Profit and Loss A/c 5,00,000
(Being the distribution of loss)

A’s Capital A/c ...Dr. 1,35,000
B’s Capital A/c ...Dr. 90,000
To C’s Capital A/c 2,25,000
(Being the deficiency borne by guaranteeing partners)
12. Calculation of Sacrifice/(Gain):

X Y Z
I. Old Share 2/5 2/5 1/5
II. New Share 1/3 1/3 1/3
III. Sacrifice/(Gain) (I – II) 1/15 (Sacrifice) 1/15 (Sacrifice) –2/15 (Gain)

Dr. REVALUATION ACCOUNT Cr.

Particulars ` Particulars `
To Machinery A/c 10,000 By Stock A/c 5,000
To Provision for Doubtful Debts A/c 3,000 By Loss transferred to:
X’s Capital A/c 3,200
Y’s Capital A/c 3,200
Z’s Capital A/c 1,600 8,000
13,000 13,000

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars X (`) Y (`) Z (`) Particulars X (`) Y (`) Z (`)
To Goodwill A/c 9,600 9,600 4,800 By Balance b/d 80,000 1,20,000 2,00,000
To Advertisement By General Reserve A/c 12,000 12,000 6,000
Suspense A/c 4,000 4,000 2,000 By Workmen Compensation
To X’s Capital A/c (Goodwill) ... ... 10,000 Reserve A/c 1,600 1,600 800
To Y’s Capital A/c (Goodwill) ... ... 10,000 By Investment Fluctuation
To Revaluation A/c (Loss) 3,200 3,200 1,600 Reserve A/c 800 800 400
To Balance c/d 87,600 1,27,600 1,78,800 By Z’s Capital A/c (Goodwill) 10,000 10,000 ...
1,04,400 1,44,400 2,07,200 1,04,400 1,44,400 2,07,200

Working Note: Adjustment of Goodwill: ` `
Z’s Capital A/c ...Dr. 20,000
To X’s Capital A/c 10,000
To Y’s Capital A/c 10,000
(Being the adjustment of goodwill on change in
profit-sharing ratio)