Pls solve the following question
Dear Student,
From the realisation A/c we can find out that Debit side has total of Rs 8,82,000 whereas credit side has total of Rs 7,02,000.
This implies the remaining amount of Rs 1,80,000 is the Realisation Loss to be borne by partners in 3:2:1
Therefore Loss will be debited as follows:
Chopra's Capital A/c 90,000 ; Shah's Capital A/c 60,000 & Patel's Capital A/c 30,000
Other Accounts are as follows:
Regards,
From the realisation A/c we can find out that Debit side has total of Rs 8,82,000 whereas credit side has total of Rs 7,02,000.
This implies the remaining amount of Rs 1,80,000 is the Realisation Loss to be borne by partners in 3:2:1
Therefore Loss will be debited as follows:
Chopra's Capital A/c 90,000 ; Shah's Capital A/c 60,000 & Patel's Capital A/c 30,000
Other Accounts are as follows:
| Partner's Capital A/c | |||||||
| Particulars | Chopra (in Rs) | Shah (in Rs) | Patel (in Rs) | Particulars | Chopra (in Rs) | Shah (in Rs) | Patel (in Rs) |
| Realisation (Investment) | 20,000 | Balance b/d (balancing figure) | 1,00,000 | 1,50,000 | 20,000 | ||
| Realisation Loss | 90,000 | 60,000 | 30,000 | Realisation (Loan) | 1,30,000 | ||
| Cash A/c | 1,20,000 | 90,000 | Cash A/c | 10,000 | |||
| 2,30,000 | 1,50,000 | 30,000 | 2,30,000 | 1,50,000 | 30,000 | ||
| Cash A/c | |||
| Particulars | Amount (in Rs) | Particulars | Amount (in Rs) |
| Balance b/d | 28,000 | Realisation A/c (Dishonoured Bill) | 50,000 |
| Realisation A/c (Assets sold) | 3,80,000 | Realisation A/c (Sundry Creditors) | 1,50,000 |
| Patel's Capital A/c | 10,000 | Chopra's Capital A/c | 1,20,000 |
| Shah's Capital A/c | 90,000 | ||
| Realisation A/c (Cash expenses) | 8,000 | ||
| 4,18,000 | 4,18,000 | ||
Regards,