Скачать или смотреть illustration 21 dissolution of a partnership firm ts grewal edition 2024

illustration 21 dissolution of a partnership firm ts grewal edition 2024 ‎@sethsaccountancytricks 

A and b sharing profits and losses in the ratio of 3:2 agreed upon the dissolution of the firm on 31st march, 2023 on the following terms:
(i) a took 50% of the stock at a discount of 20%.
(ii) 10% of the stock was obsolete l, hence not salable.
(iii) balance stock was sold at a profit of 30%.
(iv) ₹12000 out of sundry debtors were not recovered.
(v) land and building realised ₹140000.
(vi) half of the sundry creditors accepted plant and machinery at 10% less than the book value and cash of ₹5000 in settlement of their claims.
(vii) balance sundry creditors were paid at a discount of 10%.
(viii) realisation expenses were ₹5000.
(ix) z, an old customer, whose account was written off as bad debt in the previous year, paid ₹500.
(x) a contingent liability of ₹1250 was paid.
(xi) furniture vwas sold for ₹10000.
The balance sheet was as follows:

Prepare realisation account, partners' loan account, partners' capital accounts and bank account.



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