For partnership dissolved on July 31, balance sheet on the date of dissolution was as follows:
|
Liabilities Don't use plagiarized sources. Get Your Custom Essay on
the assets were realised in instalments and payment was made on the proportionate ca 609155
Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page
|
Rs |
Assets |
Rs |
|
|
Capitals: |
Cash |
16,200 |
||
|
Mohan |
1,14,000 |
Sundry Assets |
2,83,800 |
|
|
Mohamed |
72,000 |
|||
|
Martin |
54.000 |
2,40,000 |
||
|
Loan: Mohamed |
15,000 |
|||
|
Sundry Creditors |
45,000 |
|||
|
3,00,000 |
– |
3,00,000 |
The assets were realised in instalments and payment was made on the proportionate capital basis. Creditors were paid Rs 43,500 in full settlement of their accounts. Expenses on realisation were estimated to be Rs 8,100 but actual amount spent on this was Rs 6,000. This amount was paid on Nov 2. Draw up memorandum of distribution of cash that was realised as follows:
On Aug 10, Rs 37,800
On Sep 15, Rs 90,000
On Nov 2, Rs 1,20,000
The partners shared profits and losses in the ratio of 2:2:1
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.
