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Balance Sheet of a firm as at 31st March...

Balance Sheet of a firm as at 31st March , 2019 , when it was decided to dissolve the same , was :

₹ 19,500 were realised from all assets except Cash at Bank . The cost of winding up came to ₹ 440 .
X and Y sharing profits in the ratio of `2 : 1` respectively.
Prepare Realisation Account and Capital Accounts of Partners.

Text Solution

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Loss on Realisation - ₹ 1,800 , Cash paid to X and Y ₹ 3,133 and ₹ 2,567 respectively . Total of Bank Account - ₹ 20,140.
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