Question

0.1 4.8 and were in partnership sharing profits in the ratio of 1:1:1
Balance Sheet showed the following position on the date of disolution
Creditor
Bills Payable
son
Mrs.'s Lan
Workmen Compensation Reserve
Capitals
2
40.000 Fixed As
10.000 Stock
20.000 Debes
Presi
10.000 Good
20.000 Calen
I agreed to take over furniture at 20% less than the book value
II. Fixed assets realised 32,000 and stock 55.000
III Bad Debts amounted to 5.000
IV. Expenses of realisation were 3.000. Creditors were paid at a discount of
claim of 6.400 for damages the firm. It had to​

Answer 1

Answer:

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