The following is the Balance Sheet of Disha , Diya and Deepa a son 31.3.2018
Balance sheet as on 31.3.2018
LIABILITIES AMOUNT ASSETS AMOUNT
Creditors 15,000 Cash 6,500
Bills payable 1,800 Debtors 8,600
Reserve fund 6,000 Investments 10,000
Capitals Stock 13,700
Disha 22,000
Diya 12,000
Deepa 10,000 44,000
Furniture 5,100
Buildings 22,900
TOTAL 66,800 TOTAL 66,800
It was decided to dissolve the partnership firm and the details available are:
1. Disha took over buildings at Rs 27,750
2. Deepa took over bills payable at book value
3. The other assets realised as under;
a. Debtors Rs 8000
b. Investments Rs 8950
c. Stock Rs 15,600
d. Furniture Rs 4,500
4. Realisation expenses amounted to Rs 600
Prepare –
1. Realisation account
2. Partners capital accounts
3. Cash account
Answers
Answer:
The following is the Balance Sheet of Disha , Diya and Deepa a son 31.3.2018
Balance sheet as on 31.3.2018
LIABILITIES AMOUNT ASSETS AMOUNT
Creditors 15,000 Cash 6,500
Bills payable 1,800 Debtors 8,600
Reserve fund 6,000 Investments 10,000
Capitals Stock 13,700
Disha 22,000
Diya 12,000
Deepa 10,000 44,000
Furniture 5,100
Buildings 22,900
TOTAL 66,800 TOTAL 66,800
It was decided to dissolve the partnership firm and the details available are:
1. Disha took over buildings at Rs 27,750
2. Deepa took over bills payable at book value
3. The other assets realised as under;
a. Debtors Rs 8000
b. Investments Rs 8950
c. Stock Rs 15,600
d. Furniture Rs 4,500
4. Realisation expenses amounted to Rs 600
Prepare –
1. Realisation account
2. Partners capital accounts
3. Cash account
Given: The Balance Sheet of Disha , Diya and Deepa as on 31.3.2018 is given.
To prepare Realisation account, Partners capital accounts and Cash account.
Explanation:
