Question

Liabilities
"hese
Qeditors
zs Loan
Xs Current Alc
ZsCurrent Alc
Capital
-Y
hers
15. (Realisation Ac/Partner's Capital A/C) X, Y and Z are three partners. Their profit
sharing ratio was 3:2:1. Their balance sheet on 30th September 2015 was an under
Assets
5,000 Stock
5.000
3,000 Debtors
10,000
1,000 Goodwill
15.000
500 Fumiture
4,000
15,000
Cash
1.000
5,500
Y's Current Alc
5,000
10,000 30,500
40,000
40,000
Firm was dissolved on above date
(a) Goodwill was purchased by Z for 12.000
(b) X purchased stock for 6,000.
(c) Realisation from debtors was 10% lesa.
(d) Furniture was auctioned for 3,000.
(e) Dissolution expenses were 500.
(1) Partners will pay cash, if necessary.
(g) Creditors were paid in full.
Prepare realisation account and partners' capital accounts.
(Ans. Loss on realisation 4,500​

Answer 1

Answer:

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