Question 52 Chapter 5 of +2-A - T.S. Grewal 12 Class Part

Question 52 Chapter 5 of +2-A

Table of Contents

The solution of Question 52 Chapter 5 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

52. Pass entries in firm’s Journal for the following on admission of a partner:
(i) Unrecorded Investments worth 20,000.
(ii) Unrecorded liability towards suppliers for 5,000.
(iii) An item of 1,600 included in Sundry Creditors is not likely to be claimed and hence should be written back.

The solution of Question 52 Chapter 5 of +2-A: –

Date	Particulars		L.F.	Debit	Credit
	Investment A/c	Dr		20,000
	To Revaluation A/c				20,000
	(Being Unrecorded asset recorded in the books)
	Revaluation A/c	Dr		5,000
	To Creditor A/c				5,000
	(Being recording of unrecorded liability for goods)
	Creditor A/c	Dr		1,600
	To Revaluation A/c				1,600
	(Being Creditor include amount which is not likely to claim, So written off)

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
Chapter No. 3 – Goodwill: Nature and Valuation
Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
Chapter No. 5 – Admission of a Partner
Chapter No. 6 – Retirement/Death of a Partner
Chapter No. 7 – Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Chapter No. 8 – Company Accounts – Accounting for Share Capital
Chapter No. 9 – Company Accounts – Issue of Debentures
Chapter No. 10 – Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Chapter No. 1 – Financial Statements of a Company
Chapter No. 2 – Financial Statement Analysis
Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
Chapter No. 4 – Accounting Ratios
Chapter No. 5 – Cash Flow Statement

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