Accountancy, asked by guptaichha, 3 months ago

Dev, Narain and Manoj are sharing profits as 2:3:5 and their Balance Sheet as at 31st March, 2017

is as follows:

Liabilities

Capital A/cs:

Dev

Narain

Manoj

Employees Provident Fund

General Reserve

Bank Loan

Loan by Dev

Sundry Creditors

Assets

Building

Equipments

Stock

Sundry Debtors

Cash at Bank

Profit and Loss A/c

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6,00

2.10,000

2,70,000

3,30,000

8,10,000

80.000

10,000

2,60,000

3,90,000

17,50,000

The firm was dissolved on the above date. Close the books of the firm on the basis of the follow information:

( An unrecorded asset was realised at 45,000

i) A debt of ? 1,50,000 previously written off as bad was received.

(i) Sundry Creditors took a computer included in Equipments, in part payments of ? 120,000. They

were paid the balance at 10% discount. The remaining Equipments were sold for ? 18.000

(iv) Building realised 5,85,000 and Sundry Debtors realised 3,30,000

(v) Stock was sold for 2,30,000 under the supervision of Bank. The amount realised from sale

stock and further 30,000 was paid to Bank to settle its loan amount

(vi) Narain was to get a remuneration of 36,000 for completing the dissolution process and

had to bear Realisation Expenses which amounted to 33,600 paid by the firm.

1790​

Answers

Answered by varunsokhal16varun
5

Answer:sorry for cutting

Explanation:

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