In the Books Of Seeta & Geeta

Realisation A/c
Dr Cr
Particular’s Amt Amt Particular’s Amt Amt
To Sundry Assets A/c:- By Sundry Liabilities A/c:
Furniture 14000 R.D.D. 3000
Plant 65000 Creditors 35000
Trademarks 8000 Bank Loan 15000 53000
Debtors 48000
Stock 30000 165000

To Cash A/c:- By Seeta’a Capital A/c:

Creditors 34000 Plant 78000
Bank Loan 15000 Stock 22000 100000
Expenses 3500 52500

By Cash A/c:-
Debtors 40500
Trademark 5000
Goodwill 27000
Unrecorded Assets 1500
Furniture 14000 88000
To Profit On Realisation
Transferred to Partner’s
Seeta’s Capital A/c 18800
Geeta’s Capital A/c 4700 23500
(Bal. Fig.)

241000 241000

Partner’s Capital A/c

Dr Cr
Particular’s Seeta Geeta Particular’s Seeta Geeta
To Advertisement Susp 6400 1600 By Balance B/d 90000 40000
To Realisation A/c 100000 - By Realisation A/c 18800 4700
(Profit)

To Cash A/c 2400 43100

( Bal.Fig.)

108800 44700 108800 44700

 Cash A/c
Dr Cr
Particular’s Amt Amt Particular’s Amt Amt
To Balance B/d 10000 By Realisation A/c 52500
To Realisation A/c 88000 By seeta’s Capital A/c 2400
By Geeta’s Capital A/c 43100

98000 98000

Working Note
1. Advertisement Suspense
S= 8000*4/5=6400
G=8000*1/5=1600

2. Debtors
45000*90/100= 40500

3. Profit On Realisation
S = 23500*4/5 = 18800
G = 23500*1/5 = 4700