Question

p and q were partners in a firm profite sharing ratio equally on 15th april 2017 firm was dissolved.the disolution resulted in a loss of 60000.on that date the capital account of p and q show credited balance of 70000and 50000 respectivly there was a bank balance of 60000.pass the jeneral entries for1.the trannfer of the loss to the capital account of the partners2.making final payments of the partners​

Answer 1

Answer:

realisation account... Dr 60,000

to p's capital account 30,000

to Q's capital account 30,000

amount payable to P = 70,000+30,000 = 1,10,000

amount payable to Q = 50,000+30,000 = 80,000