Sun, moon and Star were equal Partners. Their financial position March 2011 was as under: Balance Sheet Amt. Rs 20,000 16,000 1.000 2.000 1,000 Liabilities
Capital Alc's Sun Moon Star Current Acounts Sun Moon Sundry Creditors Bills Payable as on 31t March, 2011 Amt. Rs Assets 37,000 Current account Star Premises 3,000 Machinery Debtors Less: R.D.D Fumiture Profit and Loss A/C 8,000 2,000 cash 50,000 On the above date they decided to dissolve the partnership firm and realization were as under. i) agreed value of 80% of book value and debtors at Rs8,300. Fumiture was given Sun to take over premises at an as on 31" Amt. Rs Amt. Rs 13.000 9.800 8,5( 11.000 2.00 10.800 900 6,000 1,000 50, 0 the result of Rs5,000, machinery realized at away free of charge ii) Sundry Creditors were paid Rs4,100 in full settlement of bill payable were discharged by Sun at Book value. to the office boy. their claims, whereas iii) Realisation expenses amounted to Rs1,100 which were met by Sun, personally. iv) Star becomes insolvent and Rs 7,000 could be recovered from Give necessary Ledger Accounts to close the books of the firm. his private estate.
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Three differences were: (i) Shahjahanabad was crowded with mohallas, and several dozen bazaars. But New Delhi was not crowded nor were there mazes of narrow bylanes. (ii) Shahjahanabad was not established in a planned manner while New Delhi was beautifully planned.
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so big question. sorry I can't give answer.
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