Скачать или смотреть D K Goel- Dissolution of A Partnership Firm- Illustration -13 CBSE 2019.

Following is the Balance Sheet of X and Y, who share profits and losses in the ratio of 4 : 1. as at 31st March, 2013

The firm was dissolved on the above date and the following arrangements were decided upon :
(i) X agreed to pay off his brother's Loan.
(ii) Debtors of 5,000 proved bad.
(iii) Other assets realised — Investments 20% less; and Goodwill at 60%.
(iv) One of the creditors of 5,000 was paid only 3.000.
(v) Buildings were auctioned for 30000 and the auctioneer's commission amounted to Rs 1,000
(vi) Y took over part of stock at 4000 (being 20% less than the book value).
(vii) Balance stock realised 50%.
(viii) Realisation expenses amounted to 2,000.
(ix) Prepare :
(x) Realisation Account
(xi) Partner's Capital Accounts. and
(xii) Bank Account