Supriya and Monika are partners, who share profit in the ratio of 3:2. Following is the balance sheet as on March 31, 2017.

The firm was dissolved on March 31, 2017. Close the books of the firm with the following information:
(i) Debtors realised at a discount of 5%,
(ii) Stock realised at Rs.7,000,
(iii) Fixed assets realised at Rs.42,000,
(iv) Realisation expenses of Rs.1,500,
(v) Creditors are paid in full. Prepare necessary ledger accounts.

Sonia, Rohit and Udit are partners sharing profits in the ratio of 5:3:2. Their Balance Sheet as on March 31, 2017 was as follows: The firm was dissolved on that date. Close the books of the firm with following information: 1. Buildings realised for Rs.1,90,000, Bills receivable realised for Rs.1,10,000, Stock realised Rs.1,50,000, and Machinery sold for Rs.48,000 and furniture for Rs. 75,000, 2. Bank loan was settled for Rs.1,30,000. Creditors and Bills payable were settled at 10% discount, 3. Rohit paid the realisation expenses of Rs.10,000 and he was to get a remuneration of Rs.12,000 for completing the dissolution process. Prepare necessary ledger accounts.

Prepare trading and profit and loss account and balance sheet as on March 31, 2017 : Closing stock as on March 31, 2017 Rs. 22,400

Surjit and Rahi were sharing profits (losses) in the ratio of 3:2, their Balance Sheet as on March 31, 2017 is as follows: The firm was dissolved on March 31, 2017 on the following terms: 1. Surjit agreed to take the investments at Rs. 8,000 and to pay Mrs. Surojit’s loan. 2. Other assets were realised as follows: Stock Rs. 5,000 Debtors Rs. 18,500 Furniture Rs. 4,500 Plant Rs. 25,000 3. Expenses on realisation amounted to Rs. 1,600. 4. Creditors agreed to accept Rs. 37,000 as a final settlement. You are required to prepare Realisation account, Partner’s Capital account and Bank account.

Sumit, Amit and Vinit are partners sharing profit in the ratio of 5:3:2. Their Balance Sheet as on March 31, 2017 was as follows: The firm was dissolved on that date. Amit took over his wife’s loan. One of the Creditors for Rs.2,600 was not claim the amount. Other assets realised as follows: 1. Machinery was sold for Rs.70,000, 2. Investments with book value of Rs.1,00,000 were given to Creditors in full settlement of their account. The remaining Investments were took over by Vinit at an agreed value of Rs.45,000, 3. Stock was sold for Rs.11,000 and Debtors for Rs.3,000 proved to be bad, 4. Realisation expenses were Rs.1,500. Prepare ledger accounts to close the books of the firm.

Prepare trading and profit and loss account from the following particulars of M/s Neema Traders as on March 31, 2017. Stock on March 31,2017 Rs. 16,000

Digvijay, Brijesh and Parakaram were partners in a firm sharing profits in the ratio of 2 : 2 : 1 . Their Balance Sheet as on March 31, 2017 was as follows: Brijesh retired on March 31, 2017 on the following terms: (i) Goodwill of the firm was valued at Rs. 70,000 and was not to appear in the books. (ii) Bad debts amounting to Rs. 2,000 were to be written off. (iii) Patents were considered as valueless. Prepare Revaluation Account, Partners’ Capital Accounts and the Balance Sheet of Digvijay and Parakaram after Brijesh’s retirement.

Sita, Rita and Meeta are partners sharing profit and losses in the ratio of 2:2:1 Their balance sheet as on March 31, 2017 is as follows: They decided to dissolve the business. The following amounts were realised: Plant and Machinery Rs.4,250, Stock Rs.3,500, Debtors Rs.1850, Furniture 750. Sita agreed to bear all realisation expenses. For the service Sita is paid Rs.60. Actual expenses on realisation amounted to Rs.450.Creditors paid 2% less. There was an unrecorded assets of Rs.250, which was taken over by Rita at Rs.200. Prepare the necessary accounts to close the books of the firm

A and B are partners in a firm sharing profits and losses in the ratio of 3: 2 . On 31st March , 2019, their Balance Sheet was as follows : The firm was dissolved on 31st March , 2019 , and both the partners agreed to the following : (a) A took investments at an agreed value of ₹ 8,000 . He also agreed to settle Mrs. A's Loan. (b) Other assets realised as : Stock - ₹ 5,000 , Debtors - ₹ 18,500 , Furniture - ₹ 4, 500 , Plant - ₹ 25,000. (c) Expenses of realisation came to ₹ 1,600 . (d) Creditors agreed to accept ₹ 37,000 in full settlement of their claims . Prepare Realisation Account , Partner's Capital Accounts and Bank Account .

Mannu and Shristhi are partners in a firm sharing profit in the ratio of 3 : 2. Following is the balance sheet of the firm as on March 31, 2017. Profit for the year ended March 31, 2017 was Rs. 5,000 which was divided in the agreed ratio, but interest @ 5% p.a. on capital and @ 6% p.a. on drawings was inadvertently enquired. Adjust interest on drawings on an average basis for 6 months. Give the adjustment entry.