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M.346 An Aid to Accountancy—CBSE XII

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars A (`) B (`) C (`) Particulars A (`) B (`) C (`)

To Realisation A/c—Loss 24,000 12,000 12,000 By Balance b/d 80,000 80,000 60,000
To Bank A/c (Bal.Fig.) 56,000 68,000 48,000
80,000 80,000 60,000 80,000 80,000 60,000
Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `
To Balance b/d 2,000 By Realisation A/c—Creditors Paid 50,000
To Realisation A/c (Assets Realised) 2,22,000 By Realisation A/c—Expenses 2,000
By A’s Capital A/c—Final Payment 56,000
By B’s Capital A/c—Final Payment 68,000
By C’s Capital A/c—Final Payment 48,000
2,24,000 2,24,000

Notes:
1. After taking the value of payment to creditors (` 50,000) and Realisation Expenses (` 2,000) from the Bank
Account, the balancing figure of ` 48,000 is the Realisation Loss, which is distributed among A, B and C in the
ratio of 2 : 1 : 1.
2. Amount of assets realised is transferred from Realisation Account to Bank Account.
Or

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
Realisation A/c ...Dr. 2,60,000
To Goodwill A/c 80,000
To Building A/c 80,000
To Stock A/c 60,000
To Debtors A/c 40,000
(Being the assets transferred)
Creditors A/c ...Dr. 50,000
Workmen Compensation Reserve A/c ...Dr. 80,000
To Realisation A/c 1,30,000
(Being the liabilities transferred)
Bank A/c ...Dr. 85,000
To Realisation A/c 85,000
(Being the stock and debtors realised)
Realisation A/c ...Dr. 80,000
To Bank A/c 80,000
(Being the workmen compensation claim paid)
Surjit’s Capital A/c ...Dr. 75,000
Rani’s Capital A/c ...Dr. 50,000
To Realisation A/c 1,25,000
(Being the loss on realisation transferred)
Surjit’s Capital A/c ...Dr. 5,000
Rani’s Capital A/c ...Dr. 20,000
To Bank A/c 25,000
(Being the final payment made)