Journal Entries In the books of Vaishali, Madhuri and Shobha

Date
Particulars
LF
Debit
Credit
1.4.12
Reserve Fund A/c .... Dr.
16000
To Vaishali’s Capital A/c
6000
To Madhuri’s Capital Account
6000
To Shobha’s Capital A/c
4000
[Being the Reserve Fund is transferred. ]
1.4.12
Revaluation A/c ..... Dr.
1200
To Stock A/c
1200
[Being the stock is depreciated]
1.4.12
Revaluation A/c .... Dr.
2800
To Machinery A/c
2800
[Being the Machinery is depreciated]
1.4.12
Furniture A/c .... Dr.
800
To Revaluation A/c
800
[Being the furniture is appreciated]
1.4.12
Revaluation A/c .... Dr.
2000
To R.D.D. A/c
2000
[Being the R.D.D. is charged]
1.4.12
Creditors A/c .... Dr.
400
To REvaluation A/c
400
[Being discount received on creditors]
1.4.12
Vaishali’s Capital A/c .... Dr.
1800
Madhuri’s Capital A/c .... Dr.
1800
Shobha’s Capital A/c .... Dr.
1200
To Revaluation A/c
4800
[Being the loss made on Revaluation ]
1.4.12
Shobha’s Capital A/c ..... Dr.
38800
To Shobha’s Loan A/c
38800
[Being the balance due to retiring partner is transferred to her loan account]