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Model Test Papers M.295

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars Ram (`) Shyam (`) Mohan (`) Particulars Ram (`) Shyam (`) Mohan (`)

To Realisation A/c 1,25,200 89,000 29,600 By Balance b/d 1,27,500 1,10,000 17,000
To Realisation A/c (Loss) 11,160 11,160 5,580 By Realisation A/c 16,000 ... 13,800
To Bank A/c 7,140 9,840 ... By Bank A/c ... ... 4,380
(Final payment) (Cash brought)
1,43,500 1,10,000 35,180 1,43,500 1,10,000 35,180

Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `
To Balance b/d 13,200 By Realisation A/c (Expenses) 2,700
To Realisation A/c (Debtors) 2,100 By Ram’s Capital A/c (Final payment) 7,140
To Mohan’s Capital A/c 4,380 By Shyam’s Capital A/c (Final payment) 9,840
19,680 19,680

15. JOURNAL

Date Particulars L.F. Dr. (`) Cr. (`)
2018
April 1 Building A/c ...Dr. 25,000
To Revaluation A/c 25,000
(Being the increase in value of building recorded)
Revaluation A/c ...Dr. 13,000
To Stock A/c 8,000
To Provision for Doubtful Debts A/c 5,000
(Being the decrease in value of stock and increase in provision for
doubtful debts recorded)
Revaluation A/c ...Dr. 12,000
To A’s Capital A/c 4,000
To B’s Capital A/c 6,000
To C’s Capital A/c 2,000
(Being the gain (profit) on revaluation transferred to partners)
Workmen Compensation Reserve A/c ...Dr. 20,000
To Workmen Compensation Claim A/c 8,000
To A’s Capital A/c 4,000
To B’s Capital A/c 6,000
To C’s Capital A/c 2,000
(Being the Workmen Compensation Claim accounted and balance
Workmen Compensation Reserve appropriated)
Investment Fluctuation Reserve A/c ...Dr. 10,000
To Investment A/c 4,000
To A’s Capital A/c 2,000
To B’s Capital A/c 3,000
To C’s Capital A/c 1,000
(Being the fall in value of investment met by Investment Fluctuation
Reserve and balance reserve appropriated among partners)