Question

whal and Vichal were partners in a firm sharing profits in the ratio of 3:5. On 31st March, 2020, their Balance
sheet was as follows:
(CBSE 2019)
Assets
3,00,000
5,00,000
Land and Building
Machinery
Debtors
Cash at Bank
8,00.000
1,79,000
21.000
400.000
300.000
2.22.000
78.000
ones Provident Fund
10,00.000
10.000.000
The firm was dissolved on 1st April, 2020 and the Assets and Liabilities were settled as follows
Land and Building realised 4,30,000
Debtors realised ? 2,25,000 (with interest) and 1,000 were recovered for Bad
a Vichal took over Machinery at 2,80,000 for cash.
50% of the Creditors were paid 7 4,000 less in full settlement and the remaining Creditors were paidकॉलिंग विजेंदर पाठक सेना फ्रॉम शेयरिंग प्रॉफिट इन द रेश्यो ऑफ थ्री टू फाइव थर्टी फर्स्ट मार्च 2020 डेट बैलेंस शीट फॉर 10 फॉलोअर्स ​

Answer 1

Answer:

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