Capital Accounts of partners 

Debit Amounts Credit Amounts
To Current A/c ( debit)

To Accumulated Losses (shared in old ratio)

To Goodwill( written off or adjusted)

To Asset A/c (asset taken over)

To Revaluation A/c (loss on revaluation)

To Bank A/c (Balancing figure-payment)

To Balance c/d( closing balance)

By Balance B/d (opening balance)

By Cash/Bank A/c ( cash brought by new partner)

By Premium A/c ( shared by old partners in Sacrifice Ratio)

By Accumulated Profits (shared in Old ratio)

By Goodwill( adjusted)

By Liability A/c (liability taken over)

By Revaluation A/c (profit on revaluation )

By Bank( Additional capital brought)

                                                           

                                                                   Cash/Bank account

Debit Amounts Credit Amounts
To Balance B/d (opening balance)

To Asset A/c ( Asset sold, if any)

To Liability A/c ( borrowed loan ,if any)

To New partner’s Capital A/c (Capital)

To Premium A/c( Premium brought)

To Partner’s capital (additional capital brought)

By Liability A/c (repayment, if any)

By Asset A/c (purchase ,if any)

By Partners’ Capital A/c (withdrawal)

By Balance c/d (closing balance)

Adjustment of Capitals on admission of Partner

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