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Answer

Arnab, Ragini and Dhrupad are partners sharing profits in the ratio of 3 : 1 : 1. Last year, conflicts arose due to certain issues of disagreements and on 31st March, 2023, they decided to dissolved the firm. On that date their Balance sheet was as under:

Solution:-

Anurag Pathak
July 31, 2023

Rita and Sobha are partners in a firm, Fancy Garments Exports, sharing profits and losses equally. On 1st April, 2023, the Balance sheet of the firm was:

Solution:- Working Notes:-

Anurag Pathak
July 31, 2023

Ashok, Babu and Chetan are in partnership sharing profit in the proportion of 1/2, 1/3, 1/6 respectively. They dissolve the partnership on 31st March, 2023 when the Balance Sheet of the firm is as under:

Solution:-

Anurag Pathak
July 31, 2023

Yogesh and Naresh were partners sharing profits equally. They dissolved the firm on 1st April, 2023. Naresh was assigned the responsibility to realise the assets and pay the liabilities at a remuneration of ₹ 10,000 including expenses.

Solution:-

Anurag Pathak
July 31, 2023

Prashant and Rajesh are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, their Balance Sheet was:

Solution:-

Anurag Pathak
July 31, 2023

Michael, Jackson and John are in partnership sharing profits and losses in the proportion of 1/2, 1/3 and 1/6 respectively

Solution:-

Anurag Pathak
July 31, 2023

A, B and C were equal partners. On 31st March, 2023, their Balance Sheet stood as:

Solution:-

Anurag Pathak
July 31, 2023

Ashu and Harish are partners sharing profit and losses as 3 : 2. They decided to dissolve the firm on 31st March 2023. Their Balance sheet on the above date was:

Solution:-

Anurag Pathak
July 31, 2023

Balance Sheet of P, Q and R as at 31st March, 2023, who were sharing profits in the ratio of 5 : 3 : 1, was:

Solution:-

Anurag Pathak
July 31, 2023

A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March 2023, their Balance Sheet was as follows:

Solution:-

Anurag Pathak
July 31, 2023