Journal |
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Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
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1. |
Profit and Loss A/c* |
Dr. |
|
18,000 |
|
|
To X’s Capital A/c |
|
|
|
9,000 |
|
To Y’s Capital A/c |
|
|
|
6,000 |
|
To Z’s Capital A/c |
|
|
|
3,000 |
|
(Balance in P&L A/c divided among Partners in the ratio of 3:2:1) |
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2. |
X’s Capital A/c |
Dr. |
|
50,000 |
|
|
To Realisation A/c |
|
|
|
50,000 |
|
(An unrecorded asset taken over by X) |
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3. |
Realisation A/c |
Dr. |
|
4,000 |
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|
To Bank A/c |
|
|
|
4,000 |
|
(Creditors were paid Rs 4,000 in full settlement |
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of their claim of Rs 5,000) |
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