Question

transfer to Capital Reserve + 3,30,0001
তারিখে S Ltd.- এর Balance Sheet ছিল নিম্নরূপ :
31.12.2011
Liabilities
Amount
₹
Assets
Amount
1,50,000
Paid up Capital:
15,000 Equity shares of
10 per share
1,500 Preference shares of
100 per share
Sundry Creditors
Building
Machinery
Stock
Sundry Debtors
Bank
Profit & Loss Alc
1,50,000
1,00,000
35,000
25.000
40.000
5.000
1.595,000
4,00.000
4,00,000
The company approved the following Scheme of Reconstruction :
aj The Equity shares of 710 each and Preference shares of 7100 each should be reduced
to 34 and 40 respectively.
b) The amount thus realised should be used for writing down stock by $10,000, reducing
the value of Machinery by 10,000 and writing off the P & L A/c (Dr. Balance)
Show Journal entries in the books of the company to record the above transactions
(Ans. Amount transfer to Capital Reserve 10,000.)
12013
value
{Ans. Total Sou
The following is the Balance Sheet of S Ltd. as on 31.12.2011​

Answer 1

Explanation:

ANSWER

(i) REVALUATION A/C

Dr. Cr.

Particulars Amount Particulars Amount

To Provision for Doubtful Debts 1700 By Prepaid advertisement Expenses 1200

To A's Capital

(revenue expense) 2100 By B's Capital

(personal expenses) 2000

By Loss transferred to:

- A's Capital a/c

- B's Capital a/c

- C's Capital a/c

300

200

100

3800 3800

(ii) PARTNER'S CAPITAL A/C

Dr. Cr.

Particulars A B C D Particulars A B C D

To Revaluation a/c

(personal) 2000 By Balance b/d 60000 40000 40000

To Revaluation a/c

(loss) 300 200 100 By Cash a/c 40000

To Balance c/d 61800 37800 39900 50000 By Creditors 10000

By revaluation expenses 2100

62100 40000 40000 50000 62100 40000 40000 50000

(iii) BALANCE SHEET

Dr. Cr.

Liabilities Amount Assets Amount

Capital a/cs:

- A

- B

- C

- D

61800

57800

39900

50000 Land and Building 50000

Bills Payable 10000 Plant and Machinery 40000

Creditors 30000

(-) D's Capital (10000) 20000 Furniture 30000

Stock 20000

Prepaid Advertisement

Expenses 1200

Debtors 30000

(-) Provision for (1700)

Doubtful debts

(+) Bills receivable 4000

dishonoured 32300

Bills receivable 20000

Bank (10000+40000-4000) 46000

• 239500 239500