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aur past the necessary general and diaries for the following transactions on the dissolution of the farm of Sudha and Shiva after the various assets other than cash and outside liabilities have been transfer to realisations amount first Sudha agri to pay of her husband loan 19000 second or debater whose debate of 9000 was written of in the books paid 7500 in full settlement 3rd Shiva took over all investments at 13300 4th 3 creators 10000 where paid at 9% discount

Posted by Anchal Kumari 3 years ago

CBSE > Class 12 > Accountancy

2 answers

Aryan Maurya 2 years, 11 months ago

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0Thank You

Lavish Bansal 3 years ago

Realisation A/c. dr. 19000 to sudha capital A/c. 19000 Bad-debt recovered A/c Dr 7500 to Realisation A/c. 7500 Shiva capital A/c dr. 13300 to Realisation A/c. 13300 Realisation A/c dr. 9100 to Creditors A/c. 9100

2Thank You

ANSWER

Dhruv Kalra 3 years ago

Profit and Loss Adjustment Account for the year ended 31st March 2019 Dr. Cr. Particulars Amount (₹) Particulars Amount (₹) Manager’s Commission (3,00,000×5%) 15,000 Profit and Loss A/c (Net Profit after Y’s salary) 2,40,000 Y’s Salary 60,000 Profit transferred to Profit and Loss Appropriation A/c 2,85,000 3,00,000 3,00,000 Profit and Loss Appropriation Account for the year ended 31st March 2019 Dr. Cr. Particulars Amount (₹) Particulars Amount (₹) Salary to Y 60,000 Profit and Loss Adjustment A/c 2,85,000 Interest on Capital: (After manager’s commission) X 40,000 Y 30,000 70,000 Profit transferred to: X’s Capital A/c 93,000 Y’s Capital A/c 62,000 1,55,000 2,85,000 2,85,000 Working Notes: WN 1 Calculation of Manager’s Commission Profit for making Managers’ Commission = 2,40,000 + 60,000 (Y’s Salary) = ₹3,00,000

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