Page 1
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
CBSE
Class XII Accountancy
Delhi Board Paper Set 2– 2015 Solution
SECTION A
1. Answer:
The correct answer is option (c)
Details `
Amount due on allotment (95,000 ?4) 3,80,000
Less : Allotment not received on 500 shares 2,000
Add : First and final call money received on 750 shares (750 ? 3) 2,250
Net Amount Received on Allotment 3,80,250
2. Answer :
Shares cancelled due to the non-payment of calls due is known as forfeiture of shares.
3. Answer :
Journal
Date Particulars L.F.
Dr.
`
Cr.
`
Profit and Loss Suspense A/c Dr. 2,350
-------- To Verma’s Capital A/c 2,350
(Being Verma’s share of profit dispensed through his capital
account)
4. Answer:
The correct answer is option (b).
When a partner retires, the balance of accumulated profits and losses is transferred among all the
partners in the old ratio. Here, debit balance of `12,000 in the Profit and Loss Account will be debited
(being a loss) to the capital accounts of Hari, Ram and Sharma equally.
5. Answer :
The accountant has passed the wrong accounting treatment. According to AS 26, during the admission
of a partner, if the new partner contributes some amount towards his share of goodwill, then such
goodwill should be immediately distributed among the sacrificing partners in their sacrificing ratio. It
cannot be shown as an asset in the books of the firm until such goodwill is purchased.
6. Answer:
The correct answer is option (b).
According to provisions of Indian Partnership Act, 1932 the profits and losses are to be shared equally
among the partners.
7. Answer :
As per the Section 78 of the Companies Act of 1956, the amount of securities premium can be used by
the company:
a. To issue fully paid bonus shares to the members.
b. To write-off preliminary expenses of the company.
c. To buy-back its own shares or other securities.
8. Answer :
Page 2
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
CBSE
Class XII Accountancy
Delhi Board Paper Set 2– 2015 Solution
SECTION A
1. Answer:
The correct answer is option (c)
Details `
Amount due on allotment (95,000 ?4) 3,80,000
Less : Allotment not received on 500 shares 2,000
Add : First and final call money received on 750 shares (750 ? 3) 2,250
Net Amount Received on Allotment 3,80,250
2. Answer :
Shares cancelled due to the non-payment of calls due is known as forfeiture of shares.
3. Answer :
Journal
Date Particulars L.F.
Dr.
`
Cr.
`
Profit and Loss Suspense A/c Dr. 2,350
-------- To Verma’s Capital A/c 2,350
(Being Verma’s share of profit dispensed through his capital
account)
4. Answer:
The correct answer is option (b).
When a partner retires, the balance of accumulated profits and losses is transferred among all the
partners in the old ratio. Here, debit balance of `12,000 in the Profit and Loss Account will be debited
(being a loss) to the capital accounts of Hari, Ram and Sharma equally.
5. Answer :
The accountant has passed the wrong accounting treatment. According to AS 26, during the admission
of a partner, if the new partner contributes some amount towards his share of goodwill, then such
goodwill should be immediately distributed among the sacrificing partners in their sacrificing ratio. It
cannot be shown as an asset in the books of the firm until such goodwill is purchased.
6. Answer:
The correct answer is option (b).
According to provisions of Indian Partnership Act, 1932 the profits and losses are to be shared equally
among the partners.
7. Answer :
As per the Section 78 of the Companies Act of 1956, the amount of securities premium can be used by
the company:
a. To issue fully paid bonus shares to the members.
b. To write-off preliminary expenses of the company.
c. To buy-back its own shares or other securities.
8. Answer :
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
Profit and Loss Appropriation Account
for the year ended March 2014
Dr. Cr.
Particulars ` Particulars `
To Interest on Capital A/c By Profit and Loss A/c 7,800
Jay 4,800
Vijay 3,000 7,800
7,800 7,800
: Calculation of Interest on Capital
9
On Jay's Capital = 80,000 7,200
100
9
On Vijay's Capital = 50,000 4,500
100
Total Interest = 7,200 + 4,500 = 11,700
: Calculation of Proportin
??
??
Working Notes :
WN 1
WN 2 ate Interest on Capital
7,200
Proportionate Interest on Jay = 7,800 4,800
11,700
4,500
Proportionate Interest to Vijay = 7,800 3,000
11,700
??
??
Note: Interest on Capital is to be treated as an appropriation of profits and is to be provided to the
extent of available profits i.e. 7,800.
9. Answer :
Balance Sheet Extract
Particulars
Note
No
`
I. Equity and Liabilities
1. Shareholder’s Funds
a. Share Capital 1 10,00,000
b. Reserve and Surplus 2 3,000
Total 10,03,000
II. Assets
2. Current Assets
a. Cash and Equivalents 3 10,03,000
Total 10,03,000
Note No Particulars `
1. Share Capital
Page 3
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
CBSE
Class XII Accountancy
Delhi Board Paper Set 2– 2015 Solution
SECTION A
1. Answer:
The correct answer is option (c)
Details `
Amount due on allotment (95,000 ?4) 3,80,000
Less : Allotment not received on 500 shares 2,000
Add : First and final call money received on 750 shares (750 ? 3) 2,250
Net Amount Received on Allotment 3,80,250
2. Answer :
Shares cancelled due to the non-payment of calls due is known as forfeiture of shares.
3. Answer :
Journal
Date Particulars L.F.
Dr.
`
Cr.
`
Profit and Loss Suspense A/c Dr. 2,350
-------- To Verma’s Capital A/c 2,350
(Being Verma’s share of profit dispensed through his capital
account)
4. Answer:
The correct answer is option (b).
When a partner retires, the balance of accumulated profits and losses is transferred among all the
partners in the old ratio. Here, debit balance of `12,000 in the Profit and Loss Account will be debited
(being a loss) to the capital accounts of Hari, Ram and Sharma equally.
5. Answer :
The accountant has passed the wrong accounting treatment. According to AS 26, during the admission
of a partner, if the new partner contributes some amount towards his share of goodwill, then such
goodwill should be immediately distributed among the sacrificing partners in their sacrificing ratio. It
cannot be shown as an asset in the books of the firm until such goodwill is purchased.
6. Answer:
The correct answer is option (b).
According to provisions of Indian Partnership Act, 1932 the profits and losses are to be shared equally
among the partners.
7. Answer :
As per the Section 78 of the Companies Act of 1956, the amount of securities premium can be used by
the company:
a. To issue fully paid bonus shares to the members.
b. To write-off preliminary expenses of the company.
c. To buy-back its own shares or other securities.
8. Answer :
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
Profit and Loss Appropriation Account
for the year ended March 2014
Dr. Cr.
Particulars ` Particulars `
To Interest on Capital A/c By Profit and Loss A/c 7,800
Jay 4,800
Vijay 3,000 7,800
7,800 7,800
: Calculation of Interest on Capital
9
On Jay's Capital = 80,000 7,200
100
9
On Vijay's Capital = 50,000 4,500
100
Total Interest = 7,200 + 4,500 = 11,700
: Calculation of Proportin
??
??
Working Notes :
WN 1
WN 2 ate Interest on Capital
7,200
Proportionate Interest on Jay = 7,800 4,800
11,700
4,500
Proportionate Interest to Vijay = 7,800 3,000
11,700
??
??
Note: Interest on Capital is to be treated as an appropriation of profits and is to be provided to the
extent of available profits i.e. 7,800.
9. Answer :
Balance Sheet Extract
Particulars
Note
No
`
I. Equity and Liabilities
1. Shareholder’s Funds
a. Share Capital 1 10,00,000
b. Reserve and Surplus 2 3,000
Total 10,03,000
II. Assets
2. Current Assets
a. Cash and Equivalents 3 10,03,000
Total 10,03,000
Note No Particulars `
1. Share Capital
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
Authorised Share Capital
5,00,000 shares of `10 each 50,00,000
Issued Share Capital
1,00,000 Equity Shares of `10 each 10,00,000
Subscribed Called-up and Paid up Share Capital
1,00,000 Shares of `10 each 10,00,000
2. Reserve and Surplus
Capital Reserve 3,000
3. Cash and Cash Equivalents
Cash at Bank 10,03,000
10. Answer :
Journal
In the books of Sangam Woolens Ltd
Date Particulars L.F.
Dr.
`
Cr.
`
Machinery A/c Dr. 5,00,000
-------- To Vendor A/c 5,00,000
(Being machinery purchased)
Vendor A/c Dr. 5,00,000
-------- To Equity Share Capital 4,00,000
-------- To 9% Debentures A/c 1,00,000
(Being issued 40,000 equity shares and 1,000 debentures to
the vendor)
Values involved in the above scenario
(i) Employment opportunities
(ii) Working for social welfare
11. Answer:
Momita’s Capital Account
Dr. Cr.
Particulars ` Particulars `
To Drawings A/c 10,000 By Balance b/d 60,000
To Interest on Drawings A/c 300 By Interest on Capital A/c 1,800
To Executors A/c 83,000 By Profit and Loss Suspense A/c 4,500
By Vikas’s Capital A/c 13,500
By Gagan’s Capital A/c 13,500
93,300 93,300
Working Notes:
WN1 Calculation of Interest on Momita’s Capital
66
Interest on Capital = 60,000 1,800
100 12
? ? ?
WN2 Calculation of Momita’s Share in Profit
Page 4
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
CBSE
Class XII Accountancy
Delhi Board Paper Set 2– 2015 Solution
SECTION A
1. Answer:
The correct answer is option (c)
Details `
Amount due on allotment (95,000 ?4) 3,80,000
Less : Allotment not received on 500 shares 2,000
Add : First and final call money received on 750 shares (750 ? 3) 2,250
Net Amount Received on Allotment 3,80,250
2. Answer :
Shares cancelled due to the non-payment of calls due is known as forfeiture of shares.
3. Answer :
Journal
Date Particulars L.F.
Dr.
`
Cr.
`
Profit and Loss Suspense A/c Dr. 2,350
-------- To Verma’s Capital A/c 2,350
(Being Verma’s share of profit dispensed through his capital
account)
4. Answer:
The correct answer is option (b).
When a partner retires, the balance of accumulated profits and losses is transferred among all the
partners in the old ratio. Here, debit balance of `12,000 in the Profit and Loss Account will be debited
(being a loss) to the capital accounts of Hari, Ram and Sharma equally.
5. Answer :
The accountant has passed the wrong accounting treatment. According to AS 26, during the admission
of a partner, if the new partner contributes some amount towards his share of goodwill, then such
goodwill should be immediately distributed among the sacrificing partners in their sacrificing ratio. It
cannot be shown as an asset in the books of the firm until such goodwill is purchased.
6. Answer:
The correct answer is option (b).
According to provisions of Indian Partnership Act, 1932 the profits and losses are to be shared equally
among the partners.
7. Answer :
As per the Section 78 of the Companies Act of 1956, the amount of securities premium can be used by
the company:
a. To issue fully paid bonus shares to the members.
b. To write-off preliminary expenses of the company.
c. To buy-back its own shares or other securities.
8. Answer :
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
Profit and Loss Appropriation Account
for the year ended March 2014
Dr. Cr.
Particulars ` Particulars `
To Interest on Capital A/c By Profit and Loss A/c 7,800
Jay 4,800
Vijay 3,000 7,800
7,800 7,800
: Calculation of Interest on Capital
9
On Jay's Capital = 80,000 7,200
100
9
On Vijay's Capital = 50,000 4,500
100
Total Interest = 7,200 + 4,500 = 11,700
: Calculation of Proportin
??
??
Working Notes :
WN 1
WN 2 ate Interest on Capital
7,200
Proportionate Interest on Jay = 7,800 4,800
11,700
4,500
Proportionate Interest to Vijay = 7,800 3,000
11,700
??
??
Note: Interest on Capital is to be treated as an appropriation of profits and is to be provided to the
extent of available profits i.e. 7,800.
9. Answer :
Balance Sheet Extract
Particulars
Note
No
`
I. Equity and Liabilities
1. Shareholder’s Funds
a. Share Capital 1 10,00,000
b. Reserve and Surplus 2 3,000
Total 10,03,000
II. Assets
2. Current Assets
a. Cash and Equivalents 3 10,03,000
Total 10,03,000
Note No Particulars `
1. Share Capital
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
Authorised Share Capital
5,00,000 shares of `10 each 50,00,000
Issued Share Capital
1,00,000 Equity Shares of `10 each 10,00,000
Subscribed Called-up and Paid up Share Capital
1,00,000 Shares of `10 each 10,00,000
2. Reserve and Surplus
Capital Reserve 3,000
3. Cash and Cash Equivalents
Cash at Bank 10,03,000
10. Answer :
Journal
In the books of Sangam Woolens Ltd
Date Particulars L.F.
Dr.
`
Cr.
`
Machinery A/c Dr. 5,00,000
-------- To Vendor A/c 5,00,000
(Being machinery purchased)
Vendor A/c Dr. 5,00,000
-------- To Equity Share Capital 4,00,000
-------- To 9% Debentures A/c 1,00,000
(Being issued 40,000 equity shares and 1,000 debentures to
the vendor)
Values involved in the above scenario
(i) Employment opportunities
(ii) Working for social welfare
11. Answer:
Momita’s Capital Account
Dr. Cr.
Particulars ` Particulars `
To Drawings A/c 10,000 By Balance b/d 60,000
To Interest on Drawings A/c 300 By Interest on Capital A/c 1,800
To Executors A/c 83,000 By Profit and Loss Suspense A/c 4,500
By Vikas’s Capital A/c 13,500
By Gagan’s Capital A/c 13,500
93,300 93,300
Working Notes:
WN1 Calculation of Interest on Momita’s Capital
66
Interest on Capital = 60,000 1,800
100 12
? ? ?
WN2 Calculation of Momita’s Share in Profit
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
30,000 50,000 60,000 40,000
Average Profit = 45,000
4
16
Share of Momita in profits = 45,000 4,500
5 12
? ? ?
?
? ? ?
WN 3 Adjustment of Goodwill
Average Profit = 45,000
Goodwill of the firm = Average Profit ? Number of years purchase
= 45,000 ? 3 = 1, 35,000
1
Momita's Share of Goodwill = 1,35,000 27,000
5
1
Vikas will pay = 27,000 13,500
2
1
Gagan will pay = 27,000 13,500
2
??
??
??
12. Answer:
Journal
Date Particulars L.F.
Dr.
`
Cr.
`
Gupta’s Capital A/c Dr. 1,20,000
--------- To Kumar’s Capital A/c 60,000
--------- To Kavita’s Capital A/c 60,000
(Being goodwill adjusted at the time of change in profit
sharing ratio)
Working Note:
WN 1 Calculation of Gaining Ratio
Old Ratio = 1:1:1
New Ratio = 1:2:1
Gaining Ratio = New Ratio – Old Ratio
1 1 3 4 1
Kumar = (sacrifice)
4 3 12 12
2 1 6 4 2
Gupta = (Gain)
4 3 12 12
1 1 3 4 1
Kavita = (Sacrifice)
4 3 12 12
?
? ? ? ?
?
? ? ?
?
? ? ? ?
Only Gupta is gaining, Kumar and Kavita are sacrificing in the ratio of 1:1
Calculation of Goodwill of the firm
Sum of years of profit
Average Profit =
Number of years
4,00,000 4,80,000 7,33,000 33,000 2,20,000
=
5
=
? ? ? ?
WN2
18,00,000
3,60,000
5
?
Goodwill is calculated on the basis of two years purchase of last 5 years average profit
Goodwill = 2 ? Average Profit
= 2 ? 3, 60,000 = 7, 20,000
1
Amount of goodwill to be adjusted = 7,20,000 60,000
12
??
Page 5
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
CBSE
Class XII Accountancy
Delhi Board Paper Set 2– 2015 Solution
SECTION A
1. Answer:
The correct answer is option (c)
Details `
Amount due on allotment (95,000 ?4) 3,80,000
Less : Allotment not received on 500 shares 2,000
Add : First and final call money received on 750 shares (750 ? 3) 2,250
Net Amount Received on Allotment 3,80,250
2. Answer :
Shares cancelled due to the non-payment of calls due is known as forfeiture of shares.
3. Answer :
Journal
Date Particulars L.F.
Dr.
`
Cr.
`
Profit and Loss Suspense A/c Dr. 2,350
-------- To Verma’s Capital A/c 2,350
(Being Verma’s share of profit dispensed through his capital
account)
4. Answer:
The correct answer is option (b).
When a partner retires, the balance of accumulated profits and losses is transferred among all the
partners in the old ratio. Here, debit balance of `12,000 in the Profit and Loss Account will be debited
(being a loss) to the capital accounts of Hari, Ram and Sharma equally.
5. Answer :
The accountant has passed the wrong accounting treatment. According to AS 26, during the admission
of a partner, if the new partner contributes some amount towards his share of goodwill, then such
goodwill should be immediately distributed among the sacrificing partners in their sacrificing ratio. It
cannot be shown as an asset in the books of the firm until such goodwill is purchased.
6. Answer:
The correct answer is option (b).
According to provisions of Indian Partnership Act, 1932 the profits and losses are to be shared equally
among the partners.
7. Answer :
As per the Section 78 of the Companies Act of 1956, the amount of securities premium can be used by
the company:
a. To issue fully paid bonus shares to the members.
b. To write-off preliminary expenses of the company.
c. To buy-back its own shares or other securities.
8. Answer :
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
Profit and Loss Appropriation Account
for the year ended March 2014
Dr. Cr.
Particulars ` Particulars `
To Interest on Capital A/c By Profit and Loss A/c 7,800
Jay 4,800
Vijay 3,000 7,800
7,800 7,800
: Calculation of Interest on Capital
9
On Jay's Capital = 80,000 7,200
100
9
On Vijay's Capital = 50,000 4,500
100
Total Interest = 7,200 + 4,500 = 11,700
: Calculation of Proportin
??
??
Working Notes :
WN 1
WN 2 ate Interest on Capital
7,200
Proportionate Interest on Jay = 7,800 4,800
11,700
4,500
Proportionate Interest to Vijay = 7,800 3,000
11,700
??
??
Note: Interest on Capital is to be treated as an appropriation of profits and is to be provided to the
extent of available profits i.e. 7,800.
9. Answer :
Balance Sheet Extract
Particulars
Note
No
`
I. Equity and Liabilities
1. Shareholder’s Funds
a. Share Capital 1 10,00,000
b. Reserve and Surplus 2 3,000
Total 10,03,000
II. Assets
2. Current Assets
a. Cash and Equivalents 3 10,03,000
Total 10,03,000
Note No Particulars `
1. Share Capital
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
Authorised Share Capital
5,00,000 shares of `10 each 50,00,000
Issued Share Capital
1,00,000 Equity Shares of `10 each 10,00,000
Subscribed Called-up and Paid up Share Capital
1,00,000 Shares of `10 each 10,00,000
2. Reserve and Surplus
Capital Reserve 3,000
3. Cash and Cash Equivalents
Cash at Bank 10,03,000
10. Answer :
Journal
In the books of Sangam Woolens Ltd
Date Particulars L.F.
Dr.
`
Cr.
`
Machinery A/c Dr. 5,00,000
-------- To Vendor A/c 5,00,000
(Being machinery purchased)
Vendor A/c Dr. 5,00,000
-------- To Equity Share Capital 4,00,000
-------- To 9% Debentures A/c 1,00,000
(Being issued 40,000 equity shares and 1,000 debentures to
the vendor)
Values involved in the above scenario
(i) Employment opportunities
(ii) Working for social welfare
11. Answer:
Momita’s Capital Account
Dr. Cr.
Particulars ` Particulars `
To Drawings A/c 10,000 By Balance b/d 60,000
To Interest on Drawings A/c 300 By Interest on Capital A/c 1,800
To Executors A/c 83,000 By Profit and Loss Suspense A/c 4,500
By Vikas’s Capital A/c 13,500
By Gagan’s Capital A/c 13,500
93,300 93,300
Working Notes:
WN1 Calculation of Interest on Momita’s Capital
66
Interest on Capital = 60,000 1,800
100 12
? ? ?
WN2 Calculation of Momita’s Share in Profit
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
30,000 50,000 60,000 40,000
Average Profit = 45,000
4
16
Share of Momita in profits = 45,000 4,500
5 12
? ? ?
?
? ? ?
WN 3 Adjustment of Goodwill
Average Profit = 45,000
Goodwill of the firm = Average Profit ? Number of years purchase
= 45,000 ? 3 = 1, 35,000
1
Momita's Share of Goodwill = 1,35,000 27,000
5
1
Vikas will pay = 27,000 13,500
2
1
Gagan will pay = 27,000 13,500
2
??
??
??
12. Answer:
Journal
Date Particulars L.F.
Dr.
`
Cr.
`
Gupta’s Capital A/c Dr. 1,20,000
--------- To Kumar’s Capital A/c 60,000
--------- To Kavita’s Capital A/c 60,000
(Being goodwill adjusted at the time of change in profit
sharing ratio)
Working Note:
WN 1 Calculation of Gaining Ratio
Old Ratio = 1:1:1
New Ratio = 1:2:1
Gaining Ratio = New Ratio – Old Ratio
1 1 3 4 1
Kumar = (sacrifice)
4 3 12 12
2 1 6 4 2
Gupta = (Gain)
4 3 12 12
1 1 3 4 1
Kavita = (Sacrifice)
4 3 12 12
?
? ? ? ?
?
? ? ?
?
? ? ? ?
Only Gupta is gaining, Kumar and Kavita are sacrificing in the ratio of 1:1
Calculation of Goodwill of the firm
Sum of years of profit
Average Profit =
Number of years
4,00,000 4,80,000 7,33,000 33,000 2,20,000
=
5
=
? ? ? ?
WN2
18,00,000
3,60,000
5
?
Goodwill is calculated on the basis of two years purchase of last 5 years average profit
Goodwill = 2 ? Average Profit
= 2 ? 3, 60,000 = 7, 20,000
1
Amount of goodwill to be adjusted = 7,20,000 60,000
12
??
CBSE XII | Accountancy
Delhi Board Paper Set 2 – 2015 Solution
13. Answer :
9% Debentures A/c
Dr. Cr.
Date Particulars J.F. ` Date Particulars J.F. `
2008-09 To Balance c/d 6,00,000 2008-09 By Debenture Application A/c 5,40,000
By Loss on Issue of Debentures A/c 60,000
6,00,000 6,00,000
2009-10 To Balance c/d 6,00,000 2009-10 By Balance b/d 6,00,000
6,00,000 6,00,000
2010-11 To Debenture holder’s A/c 1,00,000 2010-11 By Balance b/d 6,00,000
To Balance c/d 5,00,000
6,00,000 6,00,000
2011-12 To Debenture holder’s A/c 1,00,000 2011-12 By Balance b/d 5,00,000
To Balance c/d 4,00,000
5,00,000 5,00,000
2012-13 To Debenture holder’s A/c 2,00,000 2012-13 By Balance b/d 4,00,000
To Balance c/d 2,00,000
4,00,000 4,00,000
2013-14 To Debenture holder’s A/c 2,00,000 2013-14 By Balance b/d 2,00,000
2,00,000 2,00,000
14. Answer :
Realisation Account
Dr. Cr.
Particulars ` Particulars `
To Stock A/c 10,000 By Provision for Bad debts A/c 5,000
To Debtors A/c 25,000 By Sundry Creditors A/c 16,600
To Plant and Machinery A/c 40,000 By Bills Payables A/c 3,400
By Mortgage Loan A/c 15,000
To Bank A/c By Bank A/c
Sundry Creditors 16,000 Stock 6,700
Bills Payables 3,400 Debtors 12,500
Mortgage Loan 15,000 34,400 Plant and Machinery 36,000 55,200
By Bank A/c
(unrecorded assets realised)
6,220
To Bank A/c (outstanding
repairs)
400 By Loan transferred to :
Bora’s Capital A/c 5,000
To Bank A/c (exp) 620 Singh’s Capital A/c 3,000
Ibrahim’s Capital A/c 1,000 9,000
1,10,420 1,10,420
Partner’s Capital Account
Dr. Cr.
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