I want perfect answer otherwise I will give downvotes 3 The following was the Balance Sheet as on 31st July, 2020 of the firm of Arunand Aditya who were sharing profits and losses in the ratio of 3: 2.Rs.30,00018,30072,80090,75033,6502,45,500 TRs.97,500 Land & BuildingMotor VehiclesCreditorsCapitals:Arun77,500 Stocks58,.000 Debtors12,500 Cash2,45,500AdityaGeneral ReserveThe partners decided to dissolve the firm on and from the date of BalanceSheet. Motor Vehicles and stocks were sold for cash at Rs.16,950 and Rs.77,600respectively. All debtors accounts were realised in full. Aditya took over the Land andBuildings at an agreed valuation of Rs.43,500. Creditors were paid off subject to adiscount of Rs.1,700. Expenses of realisation were Rs.1,250.Prepare and close the Realistion Account, Cash Account and CapitalAccounts of partners.

The following was the Balance Sheet as on 31st July, 2020 of the firm of Arun and Aditya who were sharing profits and losses in the ratio of 3:2. Rs. 97,500 Rs. 30,000 18,300 72,800 90,750 33,650 2,45,500 Land & Building Motor Vehicles Creditors Capitals: Arun Aditya General Reserve 77,500 Stocks 58,.000 Debtors 12,500 Cash 2,45,500 The partners decided to dissolve the firm on and from the date of Bálance Sheet Motor Vehicles and stocks were sold for cash at Rs.16,950 and Rs.77,600 respectively. All debtors accounts were realised in full. Aditya took over the Land and Buildings at an agreed valuation of Rs.43,500. Creditors were paid off subject to a discount of Rs.1,700. Expenses of realisation were Rs.1,250. Prepare and close the Realistion Account, Cash Account and Capital Accounts of partners.

The following was the Balance Sheet as on 31st July, 2020 of the firm of Arun and Aditya who were sharing profits and losses in the ratio of 3:2. Rs. 97,500 Rs. 30,000 18,300 72,800 90,750 33,650 2,45,500 Land & Building Motor Vehicles Creditors Capitals: Arun Aditya General Reserve 77,500 Stocks 58,.000 Debtors 12,500 Cash 2,45,500 The partners decided to dissolve the firm on and from the date of Bálance Sheet Motor Vehicles and stocks were sold for cash at Rs.16,950 and Rs.77,600 respectively. All debtors accounts were realised in full. Aditya took over the Land and Buildings at an agreed valuation of Rs.43,500. Creditors were paid off subject to a discount of Rs.1,700. Expenses of realisation were Rs.1,250. Prepare and close the Realistion Account, Cash Account and Capital Accounts of partners.

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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