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What is the entry of journal …

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What is the entry of journal Satish who owned us ₹20000 is declred insolvent and 60paisa per ₹ is received from his estate

    • Posted by Sachin Gujjar 6 years, 7 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Prachi Jain 6 years, 7 months ago

    Cash a/c. Dr. 12000 Bad debts a/c. Dr. 8000 To Satish a/c 20000 (Being partial amt r/d from bad debts)

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    Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

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    Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

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    CBSE > Class 11 > Accountancy
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