Sudarshan’s capital = ₹ 3,60,000 × 1/4 = ₹ 90,000
Remaining capital = ₹ 3,60,000 – ₹ 90,000 = ₹ 2,70,000
Divide ₹ 2,70,000 in ratio 9 : 5 : 4:
- Aman = (9/18) × ₹ 2,70,000 = ₹ 1,35,000
- Govind = (5/18) × ₹ 2,70,000 = ₹ 75,000
- Guru = (4/18) × ₹ 2,70,000 = ₹ 60,000
Adjustments:
- Aman brought in ₹ 75,000 more (already had ₹ 60,000)
- Govind withdrew ₹ 5,000 (already had ₹ 80,000)
- Guru brought in ₹ 15,000 more (already had ₹ 45,000)
Journal Entries:
Particulars | Dr. (₹) | Cr. (₹) |
---|---|---|
Bank A/c To Sudarshan’s Capital A/c (Capital brought by Sudarshan) | 90,000 | 90,000 |
Bank A/c To Aman’s Capital A/c To Guru’s Capital A/c (Cash brought in for capital adjustments) | 90,000 | 75,000 15,000 |
Govind’s Capital A/c To Bank A/c (Excess capital withdrawn by Govind) | 5,000 | 5,000 |
Liabilities | Amount (₹) | Assets | Amount (₹) |
---|---|---|---|
Sundry Creditors | 1,80,000 | Cash in hand | 30,000 |
General Reserve | 20,000 | Debtors | 1,20,000 |
Capitals: | Kishore – 6,00,000 | Stock | 1,50,000 |
Ranjan – 4,00,000 | Furniture | 1,00,000 | |
Land and Building | 8,00,000 | ||
Total | 12,00,000 | Total | 12,00,000 |
Time (Hours) | [A] (M) |
---|---|
0 | 0.40 |
1 | 0.20 |
2 | 0.10 |
3 | 0.05 |