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Angad and bishan are equal partners of firm, Balance Sheet of which is given below as at 31st March,2026 the date on which they decide to dissolve the partnership:

Capital a/c: Angad 100000, Bishan 80000, General Reserve 16000, Loan by Angad 6000, Sundry creditors 28000 this was of liabilities side and total equals to 230000. Now on Assets side Investments 90000, Machinery 30000, Furniture 24000, Sundry Debtors 16000, Stock 48000, Bank 22000. now moving towards adjustments Following transactions took place at the time of dissolution: (1) Assets realised as follows: Stock= 44000; Sundry Debtors=15000; Machinery=32000; Investments=70000; (2) Bishan took furniture at 18000. (3) Angad agreed to accept 5000 as remuneration for complrting the dissolution work and was to bear the realisation expenses. The expenses of realisation 6000 were pais by angad. Preapare realisaton Account, Capital Accounts of partners, Angad’s loan Account and Bank account.

This question is given on pg no. 6.80 question no is 15 ans publisher name TS Grewal’s sultan chand as par 2026 edition.

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