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M.42 An Aid to Accountancy—CBSE XII

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars X (`) Y (`) Z (`) Particulars X (`) Y (`) Z (`)
To Balance b/d ... ... 1,80,000 By Balance b/d 4,00,000 3,00,000 ...
To Realisation A/c 1,25,000 30,000 ... By Realisation A/c 10,000 ... ...
To Realisation A/c 30,000 18,000 12,000 (Remuneration)
To Bank A/c 2,55,000 2,52,000 ... By Bank A/c ... ... 1,92,000
(Final Payment) (Cash brought in)
4,10,000 3,00,000 1,92,000 4,10,000 3,00,000 1,92,000

Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `
To Balance b/d 90,000 By Realisation A/c 1,90,000
To Realisation A/c 4,15,000 By X’s Capital A/c 2,55,000
To Z’s Capital A/c 1,92,000 By Y’s Capital A/c 2,52,000
6,97,000 6,97,000
Or
Dr. REALISATION ACCOUNT Cr.
Particulars ` Particulars `
To Stock 10,000 By Provision for Doubtful Debts 5,000
To Debtors 25,000 By Sundry Creditors 16,600
To Plant and Machinery 40,000 By Bills Payable 3,400
To Bank: By Mortgage Loan 15,000
Sundry Creditors 16,000 By Bank A/c—Assets Realised:
Bills Payable 3,400 Stock 6,700
Mortgage Loan 15,000 34,400 Debtors 12,500
To Bank (Outstanding Repairs) 400 Plant and Machinery 36,000 55,200
To Bank (Expenses) 620 By Bank A/c:
Unrecorded Assets Realised 6,220
By Loss transferred to Partners’ Capital A/cs:
Bora (5/9) 5,000
Singh (3/9) 3,000
Ibrahim (1/9) 1,000 9,000
1,10,420 1,10,420

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars Bora (`) Singh (`) Ibrahim (`) Particulars Bora (`) Singh (`) Ibrahim (`)
To Realisation A/c (Loss) 5,000 3,000 1,000 By Balance b/d 22,000 18,000 10,000
To Bank A/c (Bal. Fig.) 19,500 16,500 9,500 By General Reserve 2,500 1,500 500
24,500 19,500 10,500 24,500 19,500 10,500

Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `
To Balance b/d 19,500 By Realisation A/c (Liabilities) 34,400
To Realisation A/c (Assets Realised) 55,200 By Realisation A/c (Unrecorded Liabilities) 400
To Realisation A/c (Unrecorded Assets) 6,220 By Realisation A/c (Expenses) 620
By Realisation A/c (Final Payment):
Bora’ Capital A/c 19,500
Singh’s Capital A/c 16,500
Ibrahim’s Capital A/c 9,500 45,500
80,920 80,920