Adjustments:- 1 X took over the investments @25% more than the book value 2 Y took over - Accountancy - Dissolution of Partnership Firm

Question

Adjustments:-
1 X took over the investments @25% more than the book value
2 Y took over the drs amounting to Rs 5000 at Rs 4000 Remaining drs
realised 75% of their book value
3 Stock is sold for Rs 59000 and plant is sold for Rs 40000
4 Realisation expenses amounted to Rs 1000 It was also found that
there is a liability for Rs 8000 for damages, which also to be
paid

Prepare all necessary accounts

Sumi Jain · Accepted Answer

Dear Student,

X loan A/c

particulars
Amount (Rs )
particulars
Amount (Rs )

To Bank A/c
8000
By Balance b/d
8000

total
8000
total
8000

Regards,

particulars	Amount (Rs.)	particulars	Amount (Rs.)
To Bank A/c	8000	By Balance b/d	8000
total	8000	total	8000