Question

Plant and Machinery
B.
Drawings
2,50 000
2:50
1. Half the stock was sold at 10% less than the book value and the remaining
was taken over by A at 20% more than the book value.
2. During the course of dissolution a liability under action for damages was s
at 12,000 against R10,000 included in the creditors.
3. Assets realised as follows:
Plant & Machinery - 1,00,000; Truck 71,20,000; Goodwill was so
*25,000; Bad Debts amounted to $5,000. Half the investments were sold a
value.
4. A promised to pay off Mrs. A's Loan and took away half the investments
discount.
5. Trade Creditors and Bills Payable were due on average basis of one mon
31st December, but were paid immediately on 31st December, at 12% disco
annum.
Prepare necessary accounts.
[Ans. Profit on Realisation 86,800; Final Payment to A 1,29,900
1.4.000: Total of Bank A/c 13.00.6001​

Answer 1

Answer:

plant and machinery prepare accounts final