Q. 5. Dissolution Solution: Click Here for Answer
In the books of the firm.
Realisation A/c
Particulars
|
Rs.
|
Rs.
|
Particulars
|
Rs.
|
Rs.
|
To Sundry Assets
|
By Sundry Liabilities
| ||||
Stock
|
75000
|
Bills Payable
|
6000
| ||
Furniture
|
90000
|
Creditors
|
30000
|
36000
| |
Investments
|
30000
|
By R.D.D.
|
3000
| ||
Machinery
|
90000
| ||||
Buildings
|
45000
|
By Jay's Capital A/c
[Investment took over]
|
27600
| ||
Debtors
|
24000
|
354000
|
By Ajay's Capital A/c
[Furniture Took Over]
|
84000
| |
To Bank A/c
|
By Bank A/c
| ||||
Creditors
|
29100
|
Stock
|
73500
| ||
Bills Payable
|
6000
|
Debtors
|
22500
| ||
Dissolution Expenses
|
4200
|
39300
|
Machinery
|
84000
| |
Building
|
42000
|
222000
| |||
By Loss on Realisation A/c
| |||||
Jay's Capital A/c
|
12420
| ||||
Ajay's Capital A/c
|
8280
|
20700
| |||
393300
|
393300
|
Partners Capital Accounts
Particulars
|
Jay
|
Ajay
|
Particulars
|
Jay
|
Ajay
|
To Realisation A/c
|
27600
|
84000
|
By Balance b/d
|
150000
|
150000
|
To Realisation A/c
[Loss]
|
12420
|
8280
|
By Reserve Fund
|
18000
|
12000
|
To Bank A/c
|
127980
|
69720
| |||
168000
|
162000
|
168000
|
162000
|
Bank Account
Particulars
|
Rs.
|
Particulars
|
Rs.
|
To Balance b/d
|
18000
|
By Realisation A/c
|
39300
|
To Realisation A/c
|
222000
|
By Jay's Loan A/c
|
3000
|
By Jay's Capital A/c
|
127980
| ||
By Ajay's Capital Ac/
|
69720
| ||
240000
|
240000
|
Jay's Loan Account
Particulars
|
Rs.
|
Particulars
|
Rs.
|
To Bank A/c
|
3000
|
By Balance b/d
|
3000
|
3000
|
3000
|
