Ashu And Harish are partners sharing profit and losses as 3: 2 They decided to dissolve the firm on december 31. 2012. Their balance sheet on the above date was Balance Sheet of Ashu and Harish as on December 31. 2012 LiabilitiesAmt.AssetsAmt.CapitalsBuilding80,000Ashu1,08,000Machinery70,000Harish54,000––––––––1,62,000Furniture14,000Creditors88,000Stock20,000Bank Overdraft50,000Investment60,000Debtors48,000Cash in Hand8,000 –––––––––––– ––––––––––––3,00,0003,00,000 –––––––––––– –––––––––––– Ashu is to take over the building at Rs. 95,000 and Machinery and Furniture is taken over by Harish at value of Rs. 80,000. Ashu agreed to pay creditor and Harish agreed to meet bank overdraft. Stock and Investments are taken by both partner in profit sharing ratio. Debtors realised for Rs. 46,000. Expenses of realisation amounted to Rs. 3,000. Prepare necessary ledger account.

Ashu And Harish are partners sharing profit and losses as 3: 2 They de

1.	Ashu And Harish are partners sharing profit and losses as 3: 2 They decided to dissolve the firm on december 31. 2012. Their balance sheet on the above date was Balance Sheet of Ashu and Harish as on December 31. 2012 LiabilitiesAmt.AssetsAmt.CapitalsBuilding80,000Ashu1,08,000Machinery70,000Harish54,000––––––––1,62,000Furniture14,000Creditors88,000Stock20,000Bank Overdraft50,000Investment60,000Debtors48,000Cash in Hand8,000 –––––––––––– ––––––––––––3,00,0003,00,000 –––––––––––– –––––––––––– Ashu is to take over the building at Rs. 95,000 and Machinery and Furniture is taken over by Harish at value of Rs. 80,000. Ashu agreed to pay creditor and Harish agreed to meet bank overdraft. Stock and Investments are taken by both partner in profit sharing ratio. Debtors realised for Rs. 46,000. Expenses of realisation amounted to Rs. 3,000. Prepare necessary ledger account.
Answer» Ashu And Harish are partners sharing profit and losses as 3: 2 They decided to dissolve the firm on december 31. 2012. Their balance sheet on the above date was $\begin{matrix} Balance Sheet of Ashu and Harish as on December 31. 2012 \end{matrix}$ $\begin{matrix} Liabilities & Amt. & Assets & Amt. Capitals & Building & 80, 000 Ashu & 1, 08, 000 & Machinery & 70, 000 Harish & 54, 000 - ------ - & 1, 62, 000 & Furniture & 14, 000 Creditors & 88, 000 & Stock & 20, 000 Bank Overdraft & 50, 000 & Investment & 60, 000 Debtors & 48, 000 Cash in Hand & 8, 000 - ---------- - & - ---------- - 3, 00, 000 & 3, 00, 000 - ---------- - & - ---------- - \end{matrix}$ Ashu is to take over the building at Rs. 95,000 and Machinery and Furniture is taken over by Harish at value of Rs. 80,000. Ashu agreed to pay creditor and Harish agreed to meet bank overdraft. Stock and Investments are taken by both partner in profit sharing ratio. Debtors realised for Rs. 46,000. Expenses of realisation amounted to Rs. 3,000. Prepare necessary ledger account.

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