question_answer

A, B and C were partners in a firm sharing profits in the ratio of 2 : 2 : 1. On 28th February, 2017, their firm was dissolved. From the following information, complete realisation account, partners' capital accounts and cash account. Dr                                                         Realisation Account                                                                Cr

Particulars	Amt (Rs.)	Particulars	Amt (Rs.)
To Sundry Assets A/c	2,60,000	By Creditors	1,60,000
To A?s Capital A/c (Creditors)	1,50,000	By C's Capital A/c (Sundry assets)	1,30,000
To B?s Capital A/c	10,000	By ...	...
(Realisation Expenses)
	4,20,000		4,20,000

Dr                                                         Partners? Capital Account                                                        Cr

Particulars	A (Rs.)	B (Rs.)	C (Rs.)	Particulars	A (Rs.)	B (Rs.)	C (Rs.)
To Balance b/d	-	-	46,000	By Balance b/d	1,50,000	10,000	-
To ??.	.	.	.	By Realisation A/c	-	-	-
To Realisation A/c	-	-	1,30,000	By Cash A/c	-	32,000	2,02,000
(Assets)		-	-	(Cash brought in)
To Cash A/c	2,48,000	-	-
(Final Payment)
	3,00,000	52,000	2,02,000		3,00,000	52,000	2,02,000

Dr                                                                     Cash Account                                                              Cr

Particulars	Amt (Rs.)	Particulars	Amt (Rs.)
To Balance b/d	14,000	By.........	...
To ....	...
To ....	...
	2,48,000		2,48,000

 

Answer:

Dr                                                                     Realisation Account                                                    Cr

Particulars	Amt (Rs.)	Particulars		Amt (Rs.)
To Sundry Assets A/c	2,60,000	By Creditors		1,60,000
To A's Capital A/c (Creditors)	1,50,000	By C's Capital A/c (Sundry assets)		1,30,000
To B's Capital A/c	10,000	By Loss Transferred to
		A's Capital A/c	52,000
		B's Capital A/c	52,000
		C's Capital A/c	26,000	1,30,000
	4,20,000			4,20,000

Dr                                                         Partners? Capital Account                                                        Cr

Particulars	A (Rs.)	B (Rs.)	C (Rs.)	Particulars	A (Rs.)	B (Rs.)	C (Rs.)
To Balance b/d	-	-	46,000	By Balance b/d	1,50,000	10,000	-
To Realisation A/c             (Loss)	52,000	52,000	26,000	By Realisation A/c	1,50,000	10,000	-
To Realisation A/c	-	-	1,30,000	By Cash A/c	-	32,000	2,02,000
(Assets)
To Cash A/c	2,48,000	-	-
(Final Payment)
	3,00,000	52,000	2,02,000		3,00,000	52,000	2,02,000