Home
Class 12
ACCOUNTS
A , B and C are partners sharing profits...

A , B and C are partners sharing profits and losses in the ratio of ` 2 : 1 : 1` . They decided to dissolve their firm on 1st April , 2019 . Complete the Realisation Account , Partner's Capital Accounts and Bank Account from the information given below :

Text Solution

Verified by Experts

Promotional Banner

Topper's Solved these Questions

  • DISSOLUTION OF A PARTNERSHIP FIRM

    TS GREWAL|Exercise Preparation of Memorandum Balance Sheet|12 Videos
  • COMPANY ACCOUNTS- ACCOUNTING FOR SHARE CAPITAL

    TS GREWAL|Exercise Evaluation Questions: Questions With Missing Values|6 Videos
  • FINANCIAL STATEMENT ANALYSIS

    TS GREWAL|Exercise Short Answer Type Questions|16 Videos

Similar Questions

Explore conceptually related problems

X and Y were partners in a firm sharing profits and losses in the ratio of 2 : 3 . They decided to dissolve the firm on 1st May , 2018 . From the information given below , complete Realisation Account , Partner's Capital Account and Bank Account :

(Dissolution of firm ). Ashish and Neha were partners in a firm sharing profits and losses in the ratio of 4 : 3 . They decided to dissolve the firm on 1st May , 2014 . From the information given below , complete Realisation Account , Partner's Capital Accounts and Bank Account :

Vinod , Vijay and Venkat are partners sharing profits and losses in the ratio of 3 : 2 :1 . They decided to dissolve their firm on 31st March 2019 , the date on which their Balance Sheet stood as : The following additional information is given : (a) The Investments are taken by Vinod for ₹ 5,000 in settlement of his loan {:((b) , "Assets realised as follows:" ,, "₹"), (,"Stock",, 17","500), (,"Debtors",, 14","500), (,"Furniture" ,, 6","800), (,"Machinery",, 30","300):} (c) Expenses on realisation amounted to ₹ 2,000. Close the books of the firm giving relevant Ledger Accounts.

Bora , Singh and Ibrahim were partners in a firm sharing profits in the ratio of 5 : 3 : 1 . On 2nd March , 2019 , their firm was dissolved . The assets were realised and the liabilities were paid off . Given below are the Realisation Account , Partner's Capital Accounts and Bank Account of the firm . The accountant of the firm left a few amounts unposted in these accounts . You are required to complete these accounts by posting the correct amounts .

A, B and C were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. The partners decide to share future profits and losses in the ratio of 2 : 2 : 1. Indicate each partner's gain or sacrifice due to change in ratio.

A , B and C were in partnership sharing profits and losses in the ratio of 2 : 2 : 1 . They decided to dissolve the partnership . On that date of dissolution . Sundry Assets (including cash ₹ 5,000) amounted to ₹ 88,000 , assets realised ₹ 80,000 (including an unrecorded asset which realised ₹ 4,000) . A contingent liability on account of bills discounted ₹ 8,000 was paid by the firm. The Capital Accounts of A , B and C showed a balance of ₹ 20,000 each. Prepare Realisation Account , Partner's Capital Accounts and Cash Account .