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Subject: Accountancy, asked on on 16/6/10
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Subject: Accountancy, asked on on 5/2/19
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Subject: Accountancy, asked on on 30/7/17
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Subject: Accountancy, asked on on 26/11/15
Y Toh asked a question
Subject: Accountancy, asked on on 17/9/16

 

Shilpa,Meena and Nanda decided to dissolve their partnershipon March 31,2006. Their profit sharing ratio was 3:2:1and their Balance Sheet was as under:

 

Balance Sheet of Shilpa, Meena and Nanda as on March 31, 2006

 

 

Liabilities

Amount

Rs

Assets

Amount

Rs

Capitals:

 

Land

81,000

Shilpa

80,000

Stock

56,760

Meena

40,000

Debtors

18,600

Bank loan

20,000

Nanda’s Capital Account

23,000

Creditors

37,000

Cash

10,840

Provision for doubtful debts

1,200

 

 

General Reserve

12,000

 

 

 

1,90,200

 

1,90,200

 

 

 

 

 

The stock of value of Rs 41,660 are taken over by Shilpa for Rs 35,000 and she agreed to discharge bank loan.The remaining stock was sold at Rs 14,000 and debtors amounting to Rs 10,000 realised Rs 8,000. land is soldfor Rs 1,10,000. The remaining debtors realised 50%at their book value. Cost of Realisation amounted toRs 1,200. There was a typewriter not recorded in the books worth Rs 6,000 whichwere taken over by one of the Creditors at this value. Prepare Realisation Account.

 

 

Gurpreetkaurcheema asked a question
Subject: Accountancy, asked on on 1/9/17
Elaine asked a question
Subject: Accountancy, asked on on 17/9/16

 

Ashok, Babu and Chetan are in partnership sharing profit in the proportion of 1/2, 1/3, 1/6 respectively. They dissolve the partnership of the December 31, 2012, when the balance sheet of the firm as under:

 

Balance Sheet of Ashok, Babu and Chetan as on December 31, 2012

 

 

Liabilities

Amount

Rs

Assets

Amount

Rs

Sundry Creditors

20,000

Bank

7,500

Bills payable

25,500

Sundry Debtors

58,000

Babu’s loan

30,000

Stock

39,500

Capital’s:

 

Machinery

48,000

Ashok

70,000

 

Investment

42,000

Babu

55,000

 

Freehold Property

50,500

Chetan

27,000

1,52,000

 

 

Current Accounts :

 

 

 

Ashok

10,000

 

 

 

Babu

5,000

 

 

 

Chetan

3,000

18,000

 

 

 

 

2,45,500

 

2,45,500

 

 

 

 

 

           

 

The Machinery was taken over by Babu for Rs 45,000, Ashok took over the Investment for Rs 40,000 and Freehold property took over by Chetan at Rs 55,000. The remaining Assets realised as follows: Sundry Debtors Rs 56,500 and Stock Rs 36,500. Sundry Creditors were settled at discount of 7%. A Office computer, not shown in the books of Accounts realised Rs 9,000. Realisation expenses amounted to Rs 3,000.

Prepare Realisation Account, Partners Capital Account, Bank Account.

 

 

aneesha.mayoite... asked a question
Subject: Accountancy, asked on on 6/1/14
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Subject: Accountancy, asked on 4 days ago
Vritika Venetia asked a question
Subject: Accountancy, asked on on 30/7/17
Abbas Hakeem asked a question
Subject: Accountancy, asked on on 24/1/14
Afiqah Ho asked a question
Subject: Accountancy, asked on on 17/9/16

 

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

 

 

Liabilities

Amount

Rs

Assets

Amount

Rs

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

Investments

60,000

 

 

 

Debtors

48,000

 

 

 

Cash in hand

8,000

 

 

3,00,000

 

3,00,000

 

 

 

 

 

           

 

Ashu is to take over the building at Rs 95,000 and Machinery and Furniture is take 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.

 

 

Sanchit asked a question
Subject: Accountancy, asked on on 23/7/18
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Subject: Accountancy, asked on on 31/8/17
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Subject: Accountancy, asked on on 17/7/13
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Subject: Accountancy, asked on on 22/1/19
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Subject: Accountancy, asked on on 13/10/12
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