Q. 2. A, B and C were in partnership sharing profits in the ratio of 2:1:1. TheirBalance Sheet showed the following position at the date of dissolution :LiabilitiesAssetsCreditors40,000 Fixed AssetsBills Payable50,00060,00010,000 StockA's Loan20,000 Debtors30,000Mrs. A's Loan16,000Less: Provision2,000Life Policy Fund25,000 Joint Life PolicyCapitals:50,000 Furniture25,000 Goodwill25,000 Cash at Bank2,11,00028,00025,00020,00018,000 DISSOLUT21.751. सयुक्त जीवन पालिसी से 60% समर्पण मूल्य प्राप्त हुआ।II. ए फर्नीचर को 20% कम में लेने को सहमत हो गया।III. स्थाई सम्पत्तियों से 32,000₹ तथा स्टॉक से 40,000₹ प्राप्त हुए।IV. डूबत ऋण के 5,000₹ हुए।V. वसूली व्यय 3,000₹ हुए तथा लेनदारों का 5% छूट पर भुगतान कर दिया गया।VI. फर्म के विरुद्ध क्षतिपूर्ति का 6,400₹ का एक दावा था। इसे भी भुगतान करना पड़ा।आवश्यक खाते तैयार कीजिए।I. 60% surrender value is received from the Joint Life Policy.II. A agreed to take over furniture at 20% less than the book value.III. Fixed assets realised ₹32,000 and stock ₹40,000.IV. Bad Debts amounted to ₹5,000.V. Expenses of realisation were ₹3,000. Creditors were paid at a discount of 5%.VI. There was a claim of ₹6,400 for damages against the firm. It had to be paid.Prepare necessary accounts.

When the Dissolution of a Partnership firm takes place all the assets are sold, all the liabilities…

ing pro lance Sheet showed the following position at the date of dissolution : Liabilities Assets reditors 40,000 Fixed Assets ills Payable 's Loan 10,000 Stock 20,000 Debtors 30,000 rs. A's Loan 16,000 Less: Provision 2,000 fe Policy Fund 25,000 Joint Life Policy pitals: 50,000 Furniture 25,000 Goodwill 25,000 Cash at Bank 50,00 60,00 28,00 25,00 20,00 18,00

ing pro lance Sheet showed the following position at the date of dissolution : Liabilities Assets reditors 40,000 Fixed Assets ills Payable 's Loan 10,000 Stock 20,000 Debtors 30,000 rs. A's Loan 16,000 Less: Provision 2,000 fe Policy Fund 25,000 Joint Life Policy pitals: 50,000 Furniture 25,000 Goodwill 25,000 Cash at Bank 50,00 60,00 28,00 25,00 20,00 18,00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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