X and Y were partners sharing profits and losses in the ratio of ` 3 : 2 ` . They decided to dissolve the firm on 31st March , 2019 . On that date , their Capitals were X - ₹ 40,000 and Y - ₹ 30,000 . Creditors amounted to ₹ 24,000 .
Assets were realised for ₹ 88,500 . Creditors of ₹ 16,000 were taken over by X at ₹ 14,000 . Remaining Creditors were paid at ₹ 7,500 . The cost of realisation came to ₹ 500 .
Prepare necessary accounts .

A and B were partners sharing profits and losses as to 7/11 to A and 4/11 to B . They dissolved the partnership on 30th May , 2018 . As on the date their capitals were, A ₹ 7,000 and B ₹ 4,000 . There were also due on Loan A/c to A ₹ 4,500 and to B ₹ 750 . The other liabilities amounted to ₹ 5,000 . The assets proved to have been undervalued in the last Balance Sheet and actually realised ₹ 24,000 . Prepare necessary accounts showing the final settlement between partners.

(Balance Sheet as at the Date of Dissolution not Given ) A and B , who were partners sharing profits and losses in the proportion of 4/7 and 3/7 respectively , decided to dissolve the partnership firm as at 31st March 2019 . At the date of the dissolution A's Capital was ₹ 1,25,030 and B's Capital was ₹ 2,070 . Creditors amounted to ₹ 23,150 and Cash ₹ 4,520 . Remaining assets realised ₹ 1, 24 , 910 and the expenses of dissolution were ₹ 1,860 . Both A and B were solvent . Prepare Balance Sheet of the firm as at the date of dissolution and also necessary accounts to close the books of the firm , showing final adjustment of cash between the partners.

X and Y , who were sharing profits and losses in the ratio of 3 : 1 respectively , decided to dissolve the firm on 31st March , 2019 at which date some of the balances were : X's Capital -₹ 1,00,000 , Y's Capital - ₹ 10 ,000 (Debit Balance) , Profit and Loss A/c - ₹ 8,000 (Debit Balance) , Trade Creditors - ₹ 30,000 , Loan from Mrs .X - ₹ 10,000 , Cash at Bank - ₹ 2,000 . Assets (other than cash at bank) realised ₹ 1,10,000 and liabilities were paid at 5 % discount . Realisation expenses amounted to ₹ 1,000. Prepare Realisation Account , Capital Accounts of the Partners and Bank Account assuming that both the partners are solvent .

There are two partners X and Y in a firm and their capitals are ₹ 50,000 and ₹ 40,000 . The creditors are ₹ 30,000 . The assets of the firm realise ₹ 1,00,000 . How much will X and Y receive ?

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 .

A , B and C were partners sharing profits in the ratio of 5 : 3 : 2 . On 31st March , 2019 , A's Capital and B's Capital were ₹ 30,000 and ₹ 20,000 respectively but C owed ₹ 5,000 to the firm . The liabilities were ₹ 20,000 . The assets of the firm realised ₹ 50,000 . Prepare Realisation Account , Partner's Capital Accounts and Bank Account.

X , Y and Z were partners sharing profits in the ratio of 2 : 2 : 1 . The Balance Sheet as at 31st March ,2019 , when they dissolved the firm was as follows : It was agreed that : (i) X to take over furniture at ₹ 8,000 and debtors amounted to ₹ 1,20,000 at ₹ 1,17 , 000 and the creditors of ₹ 16,000 were to be paid by him at this figure . (ii) Y is to take over all stock for ₹ 17,000 and some sundry assets at ₹72,000 (being 10% less than the book value). (iii) Z to take over remaining sundry assets at 80 % of the book value and assume the responsibility of discharge of loan together with accrued interest of ₹2,300. (iv) The expenses of realisation were ₹ 2,700 . The remaining debtors were sold to a debt collecting agency at 50% of the value . Prepare necessary accounts to close the books of the firm .

A , B and C were partners sharing profits in the ratio of 2: 2 :1 . They decided to dissolve their firm on 31st March , 2019 when the Balance Sheet was : Following transactions took place : (a) A took over Stock at ₹ 36,000 . He also took over his wife's loan . (b) B took over half of Debtors at ₹ 28,000. (c) C took over investments at ₹ 54,000 and half of Creditors at their book value. (d) Remaining Debtors realised 60% of their book value. Furniture sold for ₹ 30,000 , Machinery ₹ 82,000 and Land ₹ 1,20,000. (e) An unrecorded asset was sold for ₹ 22,000 . (f) Realisation expenses amounted to ₹ 4,000 . Prepare necessary Ledger Accounts to close the books of the firm.

P , Q and R were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . They agreed to dissolve their partnership firm on 31st March , 2019 . P was deputed to realise the assets and pay the liabilities . He was paid ₹ 1,000 as commission for his services . The financial position of the firm was : P took over investments for ₹ 12,500. Stock and Debtors realised ₹ 11, 500 . Plant and Machinery were sold to Q for ₹ 22,500 for cash . Unrecorded assets realised ₹ 1,500 . Realisation expenses paid amounted to ₹ 900. Prepare necessary Ledger Accounts to close the books of the firm .

Parth and Shivika were partners in a firm sharing profits in the ratio of 3 : 2 . The Balance Sheet of the firm on 31st March , 2014 was as follows : On the above date , the firm was dissolved . The assets were realised and the liabilities were paid off as follows : (i) 50% of the furniture was taken over by Parth at 20% less than book value . The remaining furniture was sold for ₹ 1,05 , 000. (ii) Debtors realised ₹ 26,000 . (iii) Stock was taken over by Shivika for ₹ 29 , 000 . (iv) Shivika's sister's loan was paid off along with interest of ₹ 2,000 . (v) Expenses on realisation amounted to ₹ 5,000 . Prepare Realisation Account , Partner's Capital Accounts and Bank Account .