Question

378
NAVNEET 21 M. L. QUESTION SETS : BOOK KEEPING - STD. XII
Q. 3. Shyam and Ram were partners sharing profits and losses
in the ratio of 3:2. Their Balance Sheet as on 31st March,
2019 was as follows:
[10]
Balance Sheet as on 31st March, 2019
Liabilities
Amount
Assets
Amount
Capital Accounts:
Building
5,600
Shyam
8,000 Plant
7,200
Ram
4,800 Debtors
11,200
Current Accounts:
Stock
4,000
Shyam
2,400 Bank
4,800
Ram
1,600
Creditors
13,920
Bills Payable
2,080
32,800
32,800
The firm was dissolved on the above date and the assets
realised as under:
(1) Plant 6,400, Building 4,800, Stock 3,200 and Debtors 9,600.
(2) Shyam agreed to pay off the Bills Payable.
(3) Creditors were paid in full.
(4) Dissolution expenses were 1,120.
Prepare : Realisation A/C, Partners' Current A/cs, Partners'
Capital A/c and Bank A/C.​

Answer 1

Answer:

₹40,000;

Expenses Payable-₹10,000.

.​

Explanation:

assets and Liabilities, you are

required to calculate Purchase

Consideration: Land and Building-

₹4,00,000;Plant and Machinery-

₹3,00,000; Furniture - ₹2,00,000;

Stock-₹60,000; Debtors -

₹1,50,000; Cash and Bank

Balance-₹90,000; Creditors-

₹1,50,000;Bills Payable- ₹40,000;

Expenses Payable-₹10,000.

.​