Question

LUSTRATION
of /
They
Blank Check
Digit
Liabilities
15
Capitals:
А
and service
major indirect
С C
profit and Loss (Cr.)
Trade Creditors
s Loan
MSA's Loan
5's Loan
represents the
cant, one di
Balance-Sheet as on 31 December, 2018
Assets
Fixed Assets :
18,000 Leasehold Premises
50.000
36,000 Fixtures
2.000
В
24,000 Current Assets :
12,000 Debtors
30,000
11,000 Loose-Tools
10.000
6,000 Bank
22.000
payer based
10,000
Profit and Loss (Dr.)
5.000
3,000
1,20,000
1,20.000
the agreement with their Bank, the partners were entitled to withdraw an amount of
1.000 immediately and the balance amount of ? 18,000 could be drawn only after
1 March, 2019. The following were the realisations :
Fixed Assets
Current Assets
Date
us. Hence, the
₹
2019
15.000
24th January
19.000
13.000
28th February
23.000
2.000
21 March
Trade Creditors allowed a discount of 1,000 in full settlement of their claim
You are required to prepare a statement showing distribution of cash as per Surplus Capital
Method.
As per
10,000
A B and C were in partnership sharing profits and losses in the ratio of
ded to dissolve the firm on 31st December, 2018 when their financial statement was as under​

Answer 1

Answer:

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Answer 2

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