Question

018. The following was the Balance sheet of X, Y and Z1 March 2019
Aucts
Amount
Liabilities
Amount
12.000
Creditors
30.000
Debtors
18,000
Bills Payable
10,000
Slock
19,000
Loan
18,000
Std. XIT ACCOUNT (SETEN). [2]
Funiture
43.000
Y's Loan
120.000
Land and Building
1,09,000
33.000
Workmen Comp Fund
Z's Capital
20,000
Capital:
75,000
Y
85.000
Total
2.71.000
2,71
000
The firm was
dissolved on the above dalle on the following terms
(1) Debtors realized Rs. 29.000 and Creditors and Bills payable were paid at a discount of
109
(II) Stock was taken over by X for Rs. 17.000 and Furniture was sold to K for Rs 20.000
(III) Land and Building was sold for Rs. 2,98,000.
(IV) G's
loan was paid by a clieque of the same amount
(V) Compensation to workmen paid by the firm amounted to Rs 15,000,
Prepare realization A/e: Capital A/c, and
bank account​

Answer 1

Answer:

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