Question

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Make a chart on the topic of Ravindra Jayanthi.
T&C :
You can also find a picture from Internet and can also attach that picture too.
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Answer 1

Answer:

₹ .

Q. 4. Dipali and Rajshri are partners in a fi

rm sharing profits and losses in the ratio

of 3 : 2. They decided to dissolve their firm on 31st March, 2018, when their balance

sheet was as under:

Liabilities

Assets

Capital Accounts:

Freehold Property

16,000

Dipali

17,500

Investments

4,000

Rajshri

10,000 27,500 Sundry Debtors

2,000

Sundry Creditors

2,000 Stock

3,000

Profit & Loss A/c

1,500 Cash at Bank

6,000

31,000

31,000

Dipali took over the investments at an agreed value of 3,800, other assets were

realised as follows: Freehold property 18,000; Sundry Debtors 1,800 and Stock

2,800.

Creditors of the firm agreed to accept 5% less. Expenses of realisation of assets

amounted to 400. There was a type-writer in the firm bought out of the firm's money

but the same has not been shown in the above balance sheet. The type-writer is now

sold for 10,000.

Close the firm's books of accounts by preparing a realisation account, partners'

capital accounts and bank account.