18. Anil, and Sunil were partners in a Pirm. Their Balance Sheet as on 31.3.2018 was
as follows:
Balance Sheet as on 31.3.2018
Llabilities
१
7
Assets
Creditors
10,000 Cash
5,000
Bills Payable
6,000 Debtors
15,000
Bank O/D
4,000 Stock
18,000
Mrs. Supil's Loan
-5,000 Furniture
-12,000
Profit & Loss Ale
8,000 Machinery
20,000
Capitals:
Buildings
50,000
Anil
52,000 Goodwill
10,000
Sunil
45,000
1,30,000
1,30,000
On the above date, they decided to wind up the firm. The following information is
avallable:
(a) Debtors realied less 10%, stock realised 10% more and building
alised 3 62,000.
Vehicle which was unrecorded realised ? 4,000
(b) Furniture was taken over by Anil at a valuation of 9,000.
(c) Creditors to be settled at 10% less and interest on Bank O/D due
3500 also to be paid off.
(d) Mr. Sunil took over his wife's loan
(C) Dissolution expenses amounted to 3,000
Propare:
1. Realization A/C
2. Partners Capital Accounts and
3. Cash A/C
Answers
Answer:
18. Anil, and Sunil were partners in a Pirm. Their Balance Sheet as on 31.3.2018 was
as follows:
Balance Sheet as on 31.3.2018
Llabilities
१
7
Assets
Creditors
10,000 Cash
5,000
Bills Payable
6,000 Debtors
15,000
Bank O/D
4,000 Stock
18,000
Mrs. Supil's Loan
-5,000 Furniture
-12,000
Profit & Loss Ale
8,000 Machinery
Explanation:
18. Anil, and Sunil were partners in a Pirm. Their Balance Sheet as on 31.3.2018 was
as follows:
Balance Sheet as on 31.3.2018
Llabilities10,000
Sunil
45,000
1,30,000
1,30,000
On the above date, they decided to wind up the firm. The following information is
avallable:
(a) Debtors realied less 10%, stock realised 10% more and building
alised 3 62,000.
Vehicle which was unrecorded realised ? 4,000
(b) Furniture was taken over by Anil at a valuation of 9,000.
(c) Creditors to be settled at 10% less and interest on Bank O/D due
3500 also to be paid off.
(d) Mr. Sunil took over his wife's loan
(C) Dissolution expenses amounted to 3,000
Propare:
1. Realization A/C
2. Partners Capital Accounts and
3. Cash A/C
१
7
Assets
Creditors
10,000 Cash
5,000
Bills Payable
6,000 Debtors
15,000
Bank O/D
4,000 Stock
18,000
Mrs. Supil's Loan
-5,000 Furniture
-12,000
Profit & Loss Ale
8,000 Machinery
Answer:
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