Question

# And Bare partners in a firm and sharing profits and losses as 3.2. They decided to dissolve
Lemon Rentination 2.500. Payment to Ujjwal 19,500, Ramen 23,000, Partha + 500.
their firm On March 31, 2016 their Balance Sheet was as follows
Amount
Assets
Liabilities
Amount
7
Capital
70,000
A
Machinery
90,000
Investments
50,000
22.000
Sundry Creditors
80,000 1,70,000 Stock
1,03,000
Bills Payable
60,000 Sundry Debtors
5.000
20.000 Cash
2,50.000
2,50.000
The Assets and Liabilities were disposed off as follows:
(1) Machineries were given to creditors in full settlement of their amount and stocks were
given to bills payable in full settlement.
Investments were taken over by B at book value. Sundry debtors having book value
* 50,000 were taken over by A at 10% less and from remaining debtors * 51,000 were
realised
(1) Realisation expenses amount to * 2,000
Prepare necessary ledger accounts to close the books of the firm.
Ans. Realisation Los 21,000; Final Payment: A+ 32,400; B + 21,600, Total of Cash Ale
+56,000.1
Acantless Amount than of the Loan Advanced
nition on 31st​

Answer 1

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