Question

cius
13,000, B 12,880 and 36,440.
Assets and Liabilities taken over by Partners and Record for Dissolution
4.
Pre
Sheet is as follows:
2,175
Capital :
Cash at Bank
X
10,620 Sundry Debtors
6,504
Y
6,321 Stock
2,087
Sundry Creditors
8,250 Furniture
Freehold Property
4,200
25,191
The debtors realise their book value, a portion of the stock is sold for 3 13,000 and X takes over the remainder
at an agreed figure of 2,291. X also takes over the furniture for 200 and the freehold property is sold for
4,075, while the cost of winding up comes to 7,345.ecl
Prepare the necessary accounts to show the result of the winding up and to close the books of the firm.
Ans. Profit on Realisation * 2,709; Amount Paid to X'* 9,935 and Y 7,224.
X, Y and Z omenced busin
25,191
5.
2008
X and Y are partners sharing profits in the ratio of 2/3 and 1/3. They decided to dissolve when their Balance​

Answer 1

Answer:

cius

13,000, B 12,880 and 36,440.

Assets and Liabilities taken over by Partners and Record for Dissolution

4.

Pre

Sheet is as follows:

2,175

Capital :

Cash at Bank

X

10,620 Sundry Debtors

6,504

Y

6,321 Stock

2,087

Sundry Creditors

8,250 Furniture

Freehold Property

4,200

25,191

The debtors realise their book value, a portion of the stock is sold for 3 13,000 and X takes over the remainder

at an agreed figure of 2,291. X also takes over the furniture for 200 and the freehold property is sold for

4,075, while the cost of winding up comes to 7,345.ecl

Prepare the necessary accounts to show the result of the winding up and to close the books of the firm.

Ans. Profit on Realisation * 2,709; Amount Paid to X'* 9,935 and Y 7,224.

X, Y and Z omenced busin

25,191

5.

2008

X and Y are partners sharing profits in the ratio of 2/3 and 1/3. They decided to dissolve when their Balance