Question

533 and B
insolvent. Assume the capitals are not fixed. Give ledger
Ans. Loss on Realisation Account - 3,500; C's Deficiency- 6,800 to be borne by A-?
* 2,267 in the ratio of 2 : 1. A' Loan Account - 4,000] [B.Com.]
Unsolvency of a Partner: Fixed Capital) The following was the balance sheet of A, B and C on 31
13.
March 2020
30,000
Liabilities
Sundry Creditors
Loan on Mortgage of
Freehold Property
A's Capital
C's Capital
A's Current Account
C's Current Account
2.500
30,000
23,100
5,000
10,000
4,900
4,000
25,000
15,000
1,000
500
Assets
Cash
Debtors
Stock-in-Trade
Furniture
Freehold Property
B's Current Account
75,500
75,500
They shared profits and losses in the proportion of 3 : 2 : 3. It was decided to dissolve the partnership
as on the date of the Balance Sheet. The assets realised as under:
₹
Freehold Property
5,000
Furniture
1,000
Stock-in-Trade
10,000
Debtors
10,000
The expenses of realisation amounted to 2,000. The sundry creditors agreed to take 75 paise in the
rupee in full satisfaction. It was ascertained that B had incurred a heavy loss in speculation business
he was carrying on his own and had became insolvent. A dividend of 50% in the rupee was received
from the Court Receiver.
Write up Realisation Account, Capital and Current Accounts of the partners.
hranok​

Answer 1

Answer:

* 2,267 in the ratio of 2 : 1. A' Loan Account - 4,000] [B.Com.]

Unsolvency of a Partner: Fixed Capital) The following was the balance sheet of A, B and C on 31

13.

March 2020

30,000

Liabilities

Sundry Creditors

Loan on Mortgage of

Freehold Property

A's Capital

C's Capital

A's