Question

Q. 1 How will you treat the following in case of Dissolution of a Partnership Firm? Books of ____ Balance Sheet as on March 31, 2002 Liabilities Amount Rs Assets Amount Rs Investment Fluctuation Fund 500 Investment 10,000 Adjustments: a. Half of the investments were taken by A (the partner) at 10% less the book-value and the remaining half was realized for Rs 4,500. b. The firm had a car (which is not revealed in its books). The car was worth of Rs 80,000. The creditors accepted the car against their due of Rs 1,20,000.

Answer 1

Accounts is the answer