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M.294 An Aid to Accountancy—CBSE XII

14. JOURNAL

Date Particulars L.F. Dr. (`) Cr. (`)
(a) X’s Capital A/c ...Dr. 22,500
Bank A/c ...Dr. 32,500
To Realisation A/c 55,000
(Being the half of furniture taken by X and rest realised at 30% profit)
(b) X’s Capital A/c ...Dr. 5,400
Bank A/c ...Dr. 11,200
To Realisation A/c 16,600
(Being 70% of unrecorded investment sold at a loss of 20% and
remaining taken by X at 90%)
(c) Y’s Loan A/c ...Dr. 6,000
Realisation A/c ...Dr. 400
To Bank A/c 6,400
(Being Y’s Loan discharged at ` 6,400)
(d) Realisation A/c ...Dr. 5,000
To Bank A/c 5,000
(Being the discounted Bills Receivable dishonoured)
(e) Realisation A/c ...Dr. 1,250
To Bank A/c 1,250
(Being the creditors paid)
(f) Realisation A/c ...Dr. 10,000
To Bank A/c 10,000
(Being the compensation paid to workers)
Or
Dr. REALISATION ACCOUNT Cr.
Particulars ` Particulars `

To Debtors 1,24,200 By Provision for Doubtful Debts 1,200
To Stock 17,800 By Loan 11,500
To Furniture 11,000 By Creditors 16,000
To Other Sundry Assets 1,17,000 By Ram’s Capital A/c:
To Ram’s Capital A/c (Creditors) 16,000 Furniture 8,000
To Mohan’s Capital A/c 13,800 Debtors 1,17,200 1,25,200
(Loan with interest) By Shyam’s Capital A/c:
To Bank A/c (Expenses) 2,700 Stock 17,000
Other Sundry Assets 72,000 89,000
By Mohan’s Capital A/c:
Other Sundry Assets 29,600
[(` 1,17,000 – ` 80,000) × 80/100]
By Bank A/c (Remaining Debtors) 2,100
By Loss transferred to:
Ram’s Capital A/c 11,160
Shyam’s Capital A/c 11,160
Mohan’s Capital A/c 5,580 27,900
3,02,500 3,02,500