Nayana and Arushi were partners sharing profits equally Their Balance Sheet as on March 31, 2017 was as follows:

The firm was dissolved on the above date:
1. Nayana took over 50% of the stock at 10% less on its book value, and the remaining stock was sold at a gain of 15%. Furniture and Machinery realised for Rs.30,000 and Rs.50,000 respectively,
2. There was an unrecorded investment which was sold for Rs. 25,000,
3. Debtors realised 90% only and Rs.1,200 were recovered for bad debts written-off last year,
4. There was an outstanding bill for repairs which had to be paid for Rs.2,000.
Record necessary journal entries and prepare ledger accounts to close the books of the firm.

Shanti and Satya were partners in a firm sharing profits in the ratio of 4:1 . On 31st March 2013 , their Balance Sheet was as follows : On the above date the firm was dissolved : (i) Shanti took over 40% of the stock at 10% less than its book value and the remaining stock was sold for ₹ 40,000 . Furniture realised ₹ 80,000 . (ii) An unrecorded investment was sold for ₹ 20,000 . Machinery sold at a loss of ₹ 60,000 . (iii) Debtors realised ₹ 55,000 . (iv) There was an outstanding bill for repairs for which ₹ 19 , 000 was paid . Prepare Realisation Account .

Ramesh and Umesh were partners in a firm sharing profits in the ratio of their capitals . On 31st March , 2013 , their Balance Sheet was as follows : On the above date the firm was dissolved . (a) Ramesh took over 50% of stock at ₹ 10,000 less than book value . The remaining stock was sold at a loss of ₹ 15,000 . Debtors were realised at a discount of 5% . (b) Furniture was taken over by Umesh for ₹ 50,000 and machinery was sold for ₹ 4,50,000. (c) Creditors were paid in full. (d) There was an unrecorded bill for repairs for ₹ 1, 60 ,000 which was settled at ₹ 1, 40,000 . Prepare Realisation 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.

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.

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.

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 .

Dinesh, Ramesh and Suresh are partners in a firm sharing profits and losses in the ratio of 3:3:2. They decided to share the profits equally w.e.f. April 1, 2015. Their Balance Sheet as on March 31, 2016 was as follows : It was also decide that : 1. The fixed assets should be valued at Rs. 3,31,000. 2. A provisions of 5% on sundry debtors be made doubtful debts. 3. The goodwill of the firm at this date be valued at 4½ years purchase of the average net profits of last, five years which were Rs. 14,000, Rs. 17,000, Rs. 20,000, Rs. 22,000 and Rs. 27,000 respectively. 4. The value of stock be reduced to Rs. 1,12,000. 5. Goodwill was not to appear in the books. Pass the necessary journal entries and prepare the revised Balance sheet of the firm.

Shilpa , Meena and Nanda decided to dissolve their partnership on 31st March , 2019 . Their profit-sharing ratio was 3 : 2 : 1 and their Balance Sheet was as under : It is agreed as follows : The stock of value of ₹ 41, 660 are taken over by Shilpa for ₹ 35,000 and she agreed to discharge bank loan . The remaining stock was sold at ₹ 14,000 and debtors amounting to ₹ 10,000 realised ₹ 8,000 . Land is sold for ₹ 1,10,000 . The remaining debtors realised 50% at their book value . Cost of realisation amounted to ₹ 1,200 . There was a typewriter not recorded in the books worth of ₹ 6,000 which were taken over by one of the Creditors at this value . Prepare Realisation Account , Partner's Capital Accounts and Cash Account to Close the books of the firm .

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