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 .

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 .

Ashu and Harish are partners sharing profits and losses as 3 : 2 . They decided to dissolve the firm on 31st March 2019. Their Balance Sheet on the above date was : Ashu is to take over the building at ₹ 95,000 and Machinery and Furniture is taken over by Harish at value of ₹ 80,000 . Ashu agreed to pay Creditor and Harish agreed to meet Bank overdraft . Stock and investments are taken by both partner in profit-sharing ratio. Debtors realised for ₹ 46,000 , expenses of realisation amounted to ₹ 3,000 . Prepare necessary Ledger Accounts .

The partnership between A and B was dissolved on 31st March , 2019 . On that date the respective credits to the capitals were A - ₹ 1,70,000 and B - ₹ 30,000 , ₹ 20,000 were owed by B to the firm , ₹ 1,00,000 were owed by the firm to A and ₹ 2,00,000 were due to the Trade Creditors . Profits and losses were shared in the proportions of 2/3 to A , 1/3 to B . The assets represented by the above stated net liabilities realised ₹ 4,50,000 exclusive of ₹ 20,000 owed by B . The liabilities were settled at book figure . Prepare Realisation Account , Partner's Capital Accounts and Cash Account showing the distribution to the partners .

(Goodwill Appears in Balance Sheet) . A , B and C are partners in a firm sharing profits in the ratio of 2 : 1 : 1 . Their Balance Sheet as at 31st March , 2019 was as follows : The firm was dissolved on that date . Assets realised : Goodwill ₹ 20 , 000 , Land and Building ₹ 1, 00 , 000 , Plant and Machinery ₹ 50,000 , Car ₹ 28,000 and Debtors 50% of the book value . Realisation Expenses were ₹ 2, 000 . Prepare Realisation Account , Capital Accounts of Partners and Cash Account to close the books of the firm .

A and B are partners sharing profits and losses in the ratio of 2 : 1. From April 1, 2017, they decided to share the profits in the ratio of 3 : 2. On that date, profit and loss account showed a debit balance of Rs. 60,000. Record the necessary journal entry for the distribution of the balance in the Profit and Loss 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.

P , Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2 respectively . Their respective capitals are in their profit-sharing proportions . On 1st April, 2019 , the totoal capital of the firm and the balance of General Reserve are ₹ 80,000 and ₹ 20,000 respectively . During the year 2018-19 , the firm made of profit of ₹ 28,000 before chainging interest on capital @ 5%. The drawings of the partners are P - ₹ 8,000 , Q - ₹ 7,000 and R - ₹ 5,000 . On 31st March , 2019 , their liabilities were ₹ 18,000 . On this date , they decided to dissolve the firm . The assets realised ₹ 1,08,600 and realisation expenses amounted to ₹ 1,800 . Prepare necessary Leadger Accounts to close the books of the firm .

A and B were partners from 1st April , 2016 with capitals of ₹ 60,000 and ₹ 40,000 respectively . They shared profits in the ratio of 3 : 2 . They carried on business for two years . In the first year ended 31st March 2017 , they earned a profit of ₹ 50,000 but in the second year ended 31st March , 2018 , a loss of ₹ 20 , 000 was incurred . As the business was no longer profitable , they dissolved the firm on 31st March , 2018 . Creditors on that date were ₹ 20,000 . The partners withdrew for personal use ₹ 8,000 per partner per year . The assets realised ₹ 1,00,000 . The expenses of realisation were ₹ 3,000 . Prepare Realisation Account , Partner's Capital Accounts and Cash Account.

Ashok and Kishore were in partnership sharing profits in the ratio of 3 : 1 . They agreed to dissolve the firm . The assets (other than cash of ₹ 2,000) of the firm realised ₹ 1,00,000 . The liabilities and other particulars on that date were : {:("Creditors" ,,, "₹" 40","000) , ( "Ashok's Capital" ,,, "₹" 1","00","000), ("Kishore's Capital",,, "₹" 10","000 ("Dr. Balance")), ("Profit and Loss A/c" ,,, "₹" 8","000 ("Dr. Balance")), ("Realisation Expenses",,, "₹" 1","000):} You are required to close the books of the firm .

A , B and C started business on 1st April ,2018 with capitals of ₹ 1,00,000 , ₹ 80,000 and ₹ 60,000 respectively sharing profits (losses) in the ratio of 4 : 3 :3 . For the year ended 31st March , 2019 , the firm suffered a loss of ₹ 50,000 . Each of the partners withdrew ₹ 10,000 during the year . On 31st March , 2019 , the firm was dissolved , the creditors of the firm stood at ₹ 24,000 on that date and Cash in Hand was ₹ 4,000 . The assets realised ₹ 3,00,000 and Creditors were paid ₹ 23,500 in full settlement of their claims . Prepare Realisation Account and show your working clearly :