In the Books of Amit, Ajit and Abhijeet

Dr. Realisation Account for the year ended 31st March, 2019 Cr.
Particulars Amt. (₹) Amt. (₹) Particulars
To Sundry Assets By Sundry Liabilities
Buildings 40,000 Sundry Creditors
Furniture 20,000 Mortagage Loan
Debtors 130,400
Stock 89,600 280,000

By Bank A/c
To Bank A/c Buildings
Expenses 1,500 Furniture
Mortgage Loan 20,000 Stock
Creditors 119,700 Debtors
Damage Claim 22,400 163,600 Dividend received
By Loss on Reaisation A/c
Amit
Ajit
Abhijeet

443,600
19 Cr.
Amt. (₹) Amt. (₹)

126,000
18,000 144,000

40,000
20,000
80,000
127,200
267,200

16,200
10,800
5,400 32,400

443,600
 In the Books of Amit, Ajit and Abhijeet
Dr. Partner's Capital Account
Particulars amit ajit abhijeet Particulars
To Balance c/d 8,000 By Balance c/d
To Loss on Realisation A/c 16,200 10,800 5,400 By General Reserves A/c

To Realisation A/c 4230 2820 By Amit

By Ajit
To Balance b/d 111,570 74,380 By Bank

132,000 88,000 13,400

 Cr.
amit ajit abhijeet
120,000 80,000
12,000 8,000 4,000

4,230
2,820
2,350

132,000 88,000 13,400

 Dr. Bank Account
Particulars J.F. Amt. (₹) Amt. (₹) Particulars
To Balance b/d 80,000 By Realisation A/c
To Realisation A/c 267,200 By Realisation A/c
By Realisation A/c
To Abhijeet's Capital A/c 2350 By Amit's Capital A/c
By Ajit's Capital A/c

349,550
 Cr.
J.F. Amt. (₹) Amt. (₹)
139,700
22,400
1,500
111,570
74,380

349,550
 In the Books of Amit, Ajit and Abhijeet
H077 Journal Entries
Sr. No. Particulars L.F. Debit (₹) Credit (₹)
1 Realisation A/c Dr. 280,000
To Building A/c 40,000
To Furniture A/c 20,000
To Debtors A/c 130,400
To Stock A/c 89,600
(Being Sundry Assets transferred to Realisation account)

2 Creditors A/c 126,000

Mortgage Loan A/c 18,000 144,000
To Revaluation A/c
(Being Sundry Liabilities transferred to Realisation account)

3 General Reserve A/c 24,000

To Amit's Capital A/c 12,000
To Ajit's Capital A/c 8,000
To Abhijeet's Capital A/c 4,000
(Being general reserves dristibuted among partners)

4 Bank A/c 267,200

To Realisation A/c 267,200
(Being assets realised)

5 Realisation A/c 163,600

To Bank A/c 163,600
(Being third party liabilities paid)

7 Sahil's Capital A/c 10,885

Sohail's Capital A/c 10,885
To Realisation A/c 21,770
(Being loss on realisation transfrred to all partners in profit-
sharing ratio 1:1)

8 Sahil's Capital A/c 10,115

Sohail's Capital A/c 68,215
To Bank A/c 78,330
(Beng Final Settlement made)
Total 978,900 978,900
 In the Books of Suren and Viren
Balance Sheet as on 31st March, 2019
Liabilities Amt. (₹) Amt. (₹) Assets Amt. (₹)
Capital Accounts Plant and Machinery 40,000
- Tarang 34675 Add: Appreciation 4,000
- Sujang 26,117 60792 Stock 18,000
Add: Appreciation 900
Executor's Loan 11,479 Debtors 25,000
Less: RDD -1250
Sundry Creditors 21,600 Cash Balance 33,200
Bills Payable 13,600 Less: Executor's Loan (50%) -11479
Provision for Outstanding Rent 900

108,371
Amt. (₹)

44,000

18,900

23,750

21,721

108,371