Question

please help guyssss​

Answer 1

Explanation:

first close the all the assets

realisation AC...... Dr.

to assets AC

then close all the liabilities

liabilities AC....... Dr.

to realisation AC

then :-

1st adjustment:->

cash AC....dr

to realisation AC

2. no entey will pass for smae

3. x's loan AC......dr to realisation AC

4. realisation AC....dr (40,000×9×3/1200)

to cash AC

5. cash AC.....dr to realisation AC

6. workmen compensation claim....dr 24000

to realisation 24000

realisation AC.......dr 24,000 to cash 24,000

distribute the balance reserve amongst partners

7. realisation AC.....dr to x's capital AC 25,000

x's capital AC...dr 10,000 to cash AC 10,000