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M.68 An Aid to Accountancy—CBSE XII

(iii) Realisation A/c ...Dr. 2,000
To B’s Capital A/c 2,000
(Being the remuneration allowed to B)
(iv) (a) Realisation A/c ...Dr. 20,000
To C’s Capital A/c 20,000
(Being the remuneration allowed to C)
(b) C’s Capital A/c ...Dr. 9,800
To Bank A/c 9,800
(Being the dissolution expenses paid by the firm on behalf of
the partner)
(v) (a) Realisation A/c ...Dr. 15,000
To D’s Capital A/c 15,000
(Being the remuneration allowed to D)

(b) Realisation A/c ...Dr. 13,000
To Bank A/c 13,000
(Being the dissolution expenses paid by the firm)
(vi) No Entry
Or

Dr. REALISATION ACCOUNT Cr.
Particulars ` Particulars `
To Sundry Assets—Transfer: By Provision for Doubtful Debts A/c 3,600
Debtors 80,000 By Creditors 40,000
Inventory 1,09,600 By Bank A/c (Assets realised) 4,84,000
Bills Receivable 40,000 By Rose’s Capital A/c 33,000
Building 2,80,000 5,09,600 (Bills Receivable taken)
To Bank A/c (Creditors paid) 38,000 By Bank A/c 10,000
To Bank A/c (Expenses paid) 2,400 (Unrecorded Motor Cycle sold)
To Bank A/c (Contingent liability) 5,000
To Gain (Profit) on Realisation transferred to:
Lily’s Capital A/c 9,360
Rose’s Capital A/c 6,240 15,600
5,70,600 5,70,600

Dr. PARTNERS’ CAPITAL ACCOUNTS Cr.
Particulars Lily (`) Rose (`) Particulars Lily (`) Rose (`)
To Realisation A/c (Bills Receivable) ... 33,000 By Balance b/d 1,60,000 2,40,000
To Bank A/c (Final Payment) 1,99,360 2,33,240 By Profit and Loss A/c 30,000 20,000
(Balancing Figure) By Realisation A/c (Profit) 9,360 6,240
1,99,360 2,66,240 1,99,360 2,66,240