Question

Naina, Uday and Tara are partners sharing profits and losses in 5:3:2 ratio. The firm was dissolved on 31.3.2019.After transfer of assets other than cash and external liabilities to realisation ac the following transactions took place.

a.Creditors of Rs 23000 took over all the investments at Rs 12000 and balance was paid in cash.

b.Uday agreed to pay Mrs Uday,s Loanof Rs 45000

c. Tara was to get remuneration of Rs 42000 for completing the dissolution process and for bearing realisation expenses.Actual realisation expenses amounted to Rs 51000and were paid by the firm.

d.Loan of Rs 30000 advanced by Naina was paid back to her by the firm

e.A typewriter completely written off from .the books was taken by Tara for Rs 500.
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Answer 1

Answer:

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Explanation:

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