Angad and Bishan are equal partners of a firm, Balance Sheet of which is given below as at 31st March, 2023
Angad and Bishan are equal partners of a firm, Balance Sheet of which is given below as at 31st March, 2023 the date on which they decide to dissolve the partnership:
| Liabilities |  | ₹ | Assets | ₹ |
|
Capital A/cs: Angad Bishan General Reserve Loan by Angad Creditors |
1,00,000 80,000 |
1,80,000 16,000 6,000 28,000 |
Investments Machinery Furniture Debtors Stock Bank |
90,000 30,000 24,000 16,000 48,000 22,000 |
| Â | Â | 2,30,000 | Â | 2,30,000 |
Following transactions took place at the time of dissolution:
(i) Assets realised as follows:
Stock – ₹ 44,000; Debtors – ₹ 15,000; Machinery – ₹ 32,000; Investments – ₹ 70,000.
(ii) Bishan took Furniture at ₹ 18,000.
(iii) Angad agreed to accept ₹ 5,000 in settlement of his Loan Account.
(iv) Angad was entitled to receive ₹ 5,000 as remuneration for completing the dissolution work and was to bear the realisation expenses. The expenses of realisation ₹ 6,000 were paid by Angad.
Prepare Realisation Account, Capital Accounts of Partners, Angad’s Loan Account and Bank Account. 
Anurag Pathak Changed status to publish February 10, 2024
