The Total solution for NCERT class 6-12
Balance Sheet of Anup and Sumit as on December 31, 2017
Liabilities
Amount
₹
Assets
Sundry Creditors
27,000
Cash at bank
11,000
Reserve fund
10,000
Sundry Debtors
12,000
Loan
40,000
Plants
47,000
Capital
Stock
42,000
Anup
60,000
Lease hold land
Sumit
1,20,000
Furniture
25,000
1,97,000
TheAssets were realised as follows:
72,000
22,500
40,500
Plant
48,000
10,500
Books of Anup and Sumit
Realisation Account
Dr.
Cr.
Particulars
Bank:
Lease hold Land
Creditors
25,500
1,93,500
Expenses
2500
68,000
Profit transferred to
Anup’s Capital A/c
3,250
Sumit’s Capital A/c
3250
6,500
2,60,500
Partners’ Capital Account
Bank
68,250
Balance b/d
Reserve Fund
5,000
Realisation
Bank Account
Realisation (Expenses and Liabilities)
Realisation (Assets )
2,04,500