15. Akash , Prithvi and Sagar are partners sharing profits and losses in ratio of
1/2, 1/3 and 1/6. They agreed to dissolve their firm on 31.3.2018, on which
date the Balance Sheet was as follows:
Balance Sheet as on 31.3.2018
Liabilities
₹
Assets
Creditors
18,000 Cash in hand
Bills Payable
18,000 Bills Receivable
Akash's Loan
12,000 Stock
Capitals :
Debtors
Akash
45,000 Investment
Prithvi
30,000 Furniture
Sagar
15,000 Buildings
Reseve Fund
12,000
1,50,000
6,000
6,000
20,000
25,000
8,000
10,000
75,000
1,50,000
The following information is available.
a) Assets realised as follows:
Bills Receivable 35,000, Stock 718,000, Furniture 18,000, Buildings
80,000, Investments 10,000.
b) Debtors for 2,500 proved to be bad.
c) All liabilities were paid in full.
d) Firm had to pay 3,000 for outstanding salary not provided for earlier.
e) Cost of dissolution amounted to 12,500.
Prepare: 1. Realisation A/C
2. Partners' Capital Accounts and
3. Bank A/C
inn lors 7600 Final Sanital balances paid: Akash 48000,
MA. D1:
Answers
Answered by
7
Answer:
12,000 Stock
Capitals :
Debtors
Akash
45,000 Investment
Prithvi
30,000 Furniture
Sagar
15,000 Buildings
Reseve Fund
12,000
1,50,000
6,000
6,000
20,000
25,000
8,000
10,000
75,000
1,50,000
The following information is available.
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