The following was the Balance Sheet of C, D and E on Dec 31, 2009.
|
Liabilities Don't use plagiarized sources. Get Your Custom Essay on
a dividend of 50 paise in the rupee was received from the court receiver prepare rea 609144
Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page
|
Rs |
Assets |
Rs |
|
Sundry Creditors |
60,000 |
Cash |
5,000 |
|
Loan on Mortgage of Freehold Property |
8,000 |
Debtors |
44,000 |
|
C”s Capital Account |
50,000 |
Stock in Trade |
46,000 |
|
Es Capital Account |
30,000 |
Furniture |
10,200 |
|
C”s Current Account |
2,000 |
Freehold Property |
36,000 |
|
Es Current Account |
1,000 |
D”s Current Account |
9,800 |
|
1,51,000 |
1,51,000 |
The partners shared profit and losses in the ratio 3:2:3. It was decided to dissolve the partnership as on the date of the Balance Sheet. The assets realised are as follows: Freehold Property 30%; Furniture 80% less; Stock 40%; Debtors 50% less. The realisation expenses amounted to Rs 5,240. The sundry creditors agreed to take 75 paise in the rupee in full satisfaction if D is insolvent. A dividend of 50 paise in the rupee was received from the court receiver. Prepare Realisation Account, Capital and Current Accounts of partners by applying Garner vs.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
