Dissolution of Partnership

Realisation Account
Dr.

Cr.
Particulars
To Plant &
Machinary
A/c
To Land &
Building
A/c
To
Furniture
A/c
To Stocks
A/c
To Debtors
A/c
To Bank
A/c
(Liabilities
paid)
Creditors
Bills
payable
O/S Exp.
Bank Loan
To Bank a/c
(Exp)
To Partners
capital A/c
(Real.Profit
)
A
B
_________

Am
t
XX
XX
XX
XX
XX

XX
XX
XX
XX
XX
XX

XX

Particulars

Amt

By CreditorsA/c
By B/P A/c
By O/S exp.
By bank loanA/c
By Prov.for
Doubtful debts
By bank A/c
(assets realised)
Plant &
Machinary
Land & building
Furniture
Stock
Debtors
By Partners
cap.a/c (assets
taken over)
By Partners
cap.a/c (loss on
realisation)
A
B __________

XX
XX
XX
XX
XX

XX

XX
XX
XX
XX
XX
XX

XX

XX

Partners Capital Account

Dr.
Particular
s

Particulars
To P/L A/C (Dr.)
To Revalaution
A/c (loss)
To Drawing A/c
To Interest on
drawing A/c
To Retiring
partners loan A/c
(if) or Cash A/c

Particulars

Amt
XX
XX
XX
XX
XX

A
(Rs)

B
(Rs)

Particulars

To P/L
XX
A/c (loss)
To Real.
XX
A/c
Particulars
(assets
XX
By Bal.b/d
taken)
(capital)
To
XX
ByReal.A/c
P/L A/c
(Cr.)
(loss)
Cash
ByToudistributed
a/c (cash
profit
Bypaid)
Gen.Reserve

XX

By Bal.b/d
ByGen.Res
By P/L a/c
(profit)
By Real.
A/c
(Liabilities
Taken
By Real.
A/c
(Profit)
By cash
(bought in)

XX

Amt
XX
XX
XX

XX
XX
XX
XX
XX

By Reserve
XX
XX
fund
By Reval. A/c
XX
(profit)
By Int.on
XX
capital A/c
By joint life
Amt Particulars
policy A/c Amt
XX
XX

Cr.
A
(Rs
)
XX
XX
XX

B
(Rs)

XX

XX

XX

XX

XX

XX

XX

XX

XX
XX
XX

Retiring Partners Capital Account

Dr.

Deceased Partners Executors Account

Cr.

To Bank
A/c

XX

XX

By
Deceased
Partners
cap.a/c

XX

XX