Question

Akasa . Prithi and Sagar are partners sharing profit in ratio of 1/2, 1/3 and 1/6. They agreed to dissolve their arac1.3 on which date the Balance Sheet was as follows: Balance Sheet as on 31.3.2018 Liabilities Ant Creditors 18,000 Cash in hand 6,000 Bills Payable 18,000 Bills Receivable 6.000 Akash's loan 12,000 Stock 20.000 Capitals : Debtors 25.000 Akash 45.000 Investment 8,000 Prithvi 30.000 Furniture 10.000 Sagar 15.000 Buildings 73.000 Reseve Fund 12,000 1.50.000 1.50.000 12 H. paullatinple To Bank 0715 - 18000 Blo - 18000 olsal-3000 The following information is available. ai Assets realised as follows: Bills Receivable 35,000, Stock *18,000, Fumitu 780,000, Investments 10.000. 75 100 Buildings b) Debtors for 72.500 proved to be bad. c) All liabilities were paid in full. d) Firm had to pay 3,000 for outstanding salary not : vide or earlier. e) Cost of dissolution amounted to 2.500. 1. Realisation A/C 50 Tepare: 2. Partners' Capital Accounts and 3. Bank A/C

Answer 1

Answer:

realization account:: loss 6000

capital account::

akash =48,000

privithi =32,000

sagar = 16,000

bank account ::: 1,49,500