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₹ .Q. 4. DIPALI and Rajshri are partners in a firm sharing profits and losses in the ratioof 3 : 2. They decided to dissolve their firm on 31st March, 2018, when their balancesheet was as under:LiabilitiesAssetsCapital Accounts:Freehold Property16,000Dipali17,500Investments4,000Rajshri10,000 27,500 SUNDRY Debtors2,000Sundry Creditors2,000 Stock3,000Profit & Loss A/c1,500 Cash at Bank6,00031,00031,000Dipali took over the investments at an agreed value of 3,800, other assets wererealised as follows: Freehold property 18,000; Sundry Debtors 1,800 and Stock2,800.Creditors of the firm agreed to ACCEPT 5% less. Expenses of realisation of assetsamounted to 400. There was a type-writer in the firm BOUGHT out of the firm's moneybut the same has not been shown in the above balance sheet. The type-writer is nowsold for 10,000.Close the firm's books of accounts by preparing a realisation account, partners'capital accounts and bank account.



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