A, B and C are partners in a firm and divide
Profit & Loss in the ratio of 3:2:1. Partnership
is dissolved on 31st December, 1991.
Following is the Balance Sheet of the firm
on this date :
G G
Creditors 10,000 Cash 2,000
A’ Loan 3,000 Debtors 21,000
B’s Loan 2,000 Stock 8,000
Capital :
A G 10,000
B G 5,000
C G 1,000 16,000
31,000 31,000
It was agreed that net realisation will be
distributed at the end of each month in the
same order in which realisation are made. The
realisation and expenses are as follows :
Debtors Stock Expenses
G G G
January 4,000 2,000 500
February 5,000 500 250
March 4,500 4,000 500
April 5,000 500 200
May 1,000 1,500 250
The stock is completely sold off but
remaining debtors were taken over by ‘C’ for
G 300. Show the distribution of cash.
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