A, B and C decided to dissolve the partnership firm. The position as a

1.	A, B and C decided to dissolve the partnership firm. The position as at 31st March, 2012, the date of dissolution, was as follows: Capital and LiabilitiesAmount (Rs.)AssetsAmount (Rs.)Creditors2,75,000Furniture5,000A's Loan Account30,000Stock1,75,000Capital Accounts:Debtors2,40,000 A 1,00,000Bills Receivables30,000 B 50,000Cash10.000 C 5,000––––––1,55,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,60,000––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,60,000–––––––––– They share profit and losses in the ratio of A:12;B:310 and C:15. Rs. 20,000 of the debtors proved bad; the bills receivables were realised in full; the stock realised Rs. 1,70,000; Furniture was taken over by B at Book value and the expenses of Realisation amounted to Rs. 20,000. Prepare realisation account.
Answer» A, B and C decided to dissolve the partnership firm. The position as at 31st March, 2012, the date of dissolution, was as follows: $\begin{matrix} Capital and Liabilities & Amount (Rs.) & Assets & Amount (Rs.) Creditors & 2, 75, 000 & Furniture & 5, 000 A's Loan Account & 30, 000 & Stock & 1, 75, 000 Capital Accounts: & Debtors & 2, 40, 000 A 1, 00, 000 & Bills Receivables & 30, 000 B 50, 000 & Cash & 10.000 C 5, 000 - ---- - & 1, 55, 000 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 4, 60, 000 - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 4, 60, 000 - -------- - \end{matrix}$ They share profit and losses in the ratio of $A : \frac{1}{2}; B : \frac{3}{10} and C : \frac{1}{5} .$ Rs. 20,000 of the debtors proved bad; the bills receivables were realised in full; the stock realised Rs. 1,70,000; Furniture was taken over by B at Book value and the expenses of Realisation amounted to Rs. 20,000. Prepare realisation account.

A, B and C decided to dissolve the partnership firm. The position as at 31st March, 2012, the date of dissolution, was as follows: Capital and LiabilitiesAmount (Rs.)AssetsAmount (Rs.)Creditors2,75,000Furniture5,000A's Loan Account30,000Stock1,75,000Capital Accounts:Debtors2,40,000 A 1,00,000Bills Receivables30,000 B 50,000Cash10.000 C 5,000––––––1,55,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,60,000––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,60,000–––––––––– They share profit and losses in the ratio of A:12;B:310 and C:15. Rs. 20,000 of the debtors proved bad; the bills receivables were realised in full; the stock realised Rs. 1,70,000; Furniture was taken over by B at Book value and the expenses of Realisation amounted to Rs. 20,000. Prepare realisation account.

Answer»

A, B and C decided to dissolve the partnership firm. The position as at 31st March, 2012, the date of dissolution, was as follows:

$\begin{matrix} Capital and Liabilities & Amount (Rs.) & Assets & Amount (Rs.) Creditors & 2, 75, 000 & Furniture & 5, 000 A's Loan Account & 30, 000 & Stock & 1, 75, 000 Capital Accounts: & Debtors & 2, 40, 000 A 1, 00, 000 & Bills Receivables & 30, 000 B 50, 000 & Cash & 10.000 C 5, 000 - ---- - & 1, 55, 000 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 4, 60, 000 - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 4, 60, 000 - -------- - \end{matrix}$

They share profit and losses in the ratio of $A : \frac{1}{2}; B : \frac{3}{10} and C : \frac{1}{5} .$
Rs. 20,000 of the debtors proved bad; the bills receivables were realised in full; the stock realised Rs. 1,70,000; Furniture was taken over by B at Book value and the expenses of Realisation amounted to Rs. 20,000.

Prepare realisation account.

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