1,000 decided 1,00,000 90,000 3,00,0001,000 69,000 were realised 5,60,000 adapte distributio under: profit ratio4:2:1.They 2018, piecemea their as amount wa March in partners Sheet The showing 2017, thewhen Balance partners. all 2017 Land and Building April in among losses Bank statemen losses March, their 31st partnership Machinery the (S.Y.B and distributedand Assets 1,20,000| Debtors among Stock 40,000| Cash a profits31st Prepare 2017on sharing 2,00,00080.000 5,60,000| 60,000 60,000 expense distributed gets as March, Sheet 1,000. 6,000 partners realisation 71,58,000 1,00,000 1,20,600 7 55,400 be Method Balance were of should realisation on expenses areas for Capital Karma received provided (Unsecured) Loan 10% on andi and Capital: Partners' Excess realisation loss 1st Realisation 2ndRealisation cash Realisation Ihe Sharma be 3rd Realisation 4th the hoW3:2:1. ratio :3 stration dissove Liabilities Payable Bills to all per -Sharma CreditorshasThereafter :follows as as Solut : INote \Fandit, Pandit actual Karma - 1.600 cash Un 1o The of Unpaid Balances Uustration 5:(Withdrawal of agreed amounts) Madhuri, Juhi carrying on business in nartnership decided to dissolve iton and from 30th Un, labu and September, 2013. The following was their Balance Sheet on the date: Balance Sheet
Liablities Assets Capital Acoounts : Fixed Assetsoota prns2 40,000 - Madhuri 20,000 Current Assets 22,000 - Tabu 5,000 Bank 13,000 - Juhi 10,000 35,000 General Reserve 30,000 Creditors 10,000 75,000 75,000 As per the arrangements with the bank, the partners were enttled to withdraw4,000 immediately andz9.000 after 1st December, 2013. It was decided that after keeping aside an amount ofz 1000 for estimated realisation expenses, the available funds should be distributed amongst the nartners as and when realised. The following were the realisations : ile Fixed ASsets Current Assels 31st October, 2013 (First) 10,000 15th November, 2013(Second) 5,000 26,000 o 12,000 30th December, 2013 (Final) 10,000 12,000 Actual realisation'expenses amounted to 700. You are requested to submit submit a distribution of cash amongst the partners by Proportionate Capital Method. statement showing Solution: (SYBAF, Oct. 2012, adapted) STATEMENT OF EXCESS CAPITAL 3012 8Rank 14,867 14,867 14,867 14,866 Alc (Profit) 8,200| 8,200 8,200 68,200| 38,200 48,200 68,200| 38,200 48,200 S2 LATEST S.Y.B,COM, UNIVERSITY EXAM QUESTIONS Allustration 9: Oand Rare partners of W's Piku Stationers, sharing Profits and Losses in the ratio of 1:1:2. mS0th June, 2017,they decided to dissolve their firm when their balance sheet was as under: ablities Assets Capital : Goodwill 1,20,000 P 2,40,000 Building 2,40,000 1,60,000 Plant 2,68,000 R 3,00,000| Stock 1,23,000 General Reserve 80.000 Debtors 1,80,000 Loan fromQ 40,000| Bills Receivable 37,000 Sundry Creditors 1,60,000 Bank 12,000 9,80,000 9,80,000 The realisation and expenses of realisation were as stated below: Date Realisation Expenses 31st July 1,10,000 2,000 31stAugust 3,40,000 10,000 30th September 3,50,000 5,000 31st October 1,62,000 3,000 0uare required to prepare statement to show the piecemeal distribution of cash available under Highest Relative Capital Method. (S.Y.B.Com., Nov. 2017, adapted) Solutlon : LosS Oh flustration 12: Tushar, Harsh.and Sachin are partners, sharing profits and losses in the ratio of 3:2:1 respectively. The firm dissolved on 31st March, 2017. When their Balance Sheet was as below Balance Sheet as on 31-3-2017
Additional Information : The realisation expenses were estimated 14,000 but it was actually 13,000. The assets realised as follows: 1st Flealsatlonnd Fealsaton 3o Heallsation 4th Realisation Realisation 87,500 31,500 1,12,000 1,08,500 Amount Method". Prepare a statement showing distribution of cash by applying "Excess Capital Solution: (S. Y.B.Com., March 2018, adapted) anital Illastration 14 : and Sub were in partnership sharing profits and losses in the ratío of3:2:1. They Hum, Tum dissolve the firm on 31st March, 2018. Assets Labilities 25,000 Capital Account: Cash Fixed Assets 2,00,000 Hum 50.000 Stocks 67,500 Tum 62,500 Sub 25,000 1,37,500 Reserves 30,000 Creditors 1,00,000 Loan from Hum 25,000 2,92,500 2.92.500
The following are the realisatíon and expenses:
Fixed Assets Stock.Expenses Months 30,000 15,000 2,500 April 2018 3,750 May 2018 55.000 2,500 15,000 25,000 3,000 June 2018 July 2018 83,750 20,000 6,000
Prepare a statement showing Piecemeal distribution of cash by using Proportionate Capital Method. Solution: (S. Y.B.Com., Nov. 2018, adapted) ProfitLOss) (12 )) (M) ustrathon16: Balanco Shoot ns on 31-3-2018 of Arjun, Bansal and Chetan who shared prctAs 4:3:2roopoctlvoly. and kossOsintho atio of Assots Lisbilitles Cash Cavtals: 1,28,00o Debtors 20,000 Arjun 1,48,000 Bansal 90,000 Stock 130,000 Chetan 84,000 Machinery 140,000 56,000 Creditors 28,000 Mrs. Bansal's Loan Bills Payable 14,000 General Reserve 36,000 4,36,000 4,36,000. dissolved on the above date. It was decided to keep'aside 6,000 for esimated Thefirm was expenses and to distribute the cash as and when the asset realised. realisation instalments as follows: The cash was received in Months April 2018 1,04,000 May 2018 1,38,000 June 2018 1,26,000 were 6,900. The actual realisation expenses Prepare : (a) Statement showing Surplus Capital and (S.Y.B.Com., March 2019, adapted) Piecemeal Distribution of Cash. (b) Statement showing Solution: of Excess Capltal
