Question

oks of the
18. Dev, Narain and Manoj are sharing profits as 2:3:5 and their Balance Sheet as at 31st Match
The firm was dissolved on the above date. Close the books of the firm on the basis of the follow
(iii) Sundry Creditors took a computer included in Equipments, in part payments of 1,20,000. The
were paid the balance at 10% discount. The remaining Equipments were sold for * 18,000.
(v) Stock was sold for 2,30,000 under the supervision of Bank. The amount realised from sale
Prepare Realisation Acco
is as follows:
₹
Assets
Liabilities
Building
Capital A/cs:
Equipments
2,10,000
Dev
Stock
Narain
2,70,000
3,30,000
Manoj
8,10,000 Sundry Debtors
80,000 Cash at Bank
Employees' Provident Fund
10,000
Profit and Loss A/C
General Reserve
2,60,000
Advertisement Suspense A/C
Bank Loan
Loan by Dev
3,90,000
Sundry Creditors
2,00,000
17,50,000
information:
(i) An unrecorded asset was realised at 45,000.
(ii) A debt of 1,50,000 previously written off as bad was received.
(iv) Building realised 5,85,000 and Sundry Debtors realised 3,30,000.
stock and further 30,000 was paid to Bank to settle its loan amount.
1790
(vi) Narain was to get a remuneration of 36,000 for completing the dissolution process and la
had to bear Realisation Expenses which amounted to * 33,600 paid by the firm.​

Answer 1

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Answer 2

Answer:

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