What is the number of major heads of the Equity and Liabilities side of a Company’s Balance Sheet? Post category:Accountancy Reading time:1 mins read SOLUTION Four. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat is the number of major heads of the Assets side of a Company’s Balance Sheet? Next PostHow are the assets and liabilities of a Company usually marshalled? You Might Also Like 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 − Rs. 40,000 and Y− Rs. 30,000. Creditors amounted to Rs. 24,000. Assets were realised for Rs. 88,500. Creditors of Rs. 16,000 were taken over by X at Rs. 14,000. Remaining Creditors were paid at Rs. 7,500. The cost of realisation came to Rs. 500. Prepare necessary accounts. July 26, 2022 A and B are partners in a firm sharing profits and losses in the ratio of 2 : 1. On 31st March, 2019, their Balance Sheet was: July 26, 2022 Pass Journal entries for the following: (a) Realisation expenses amounted to Rs. 10,000 were paid by the firm on behalf of Alok, a partner, with whom it was agreed at Rs. 7,500. (b) Realisation expenses amounted to Rs. 5,000. It was agreed that the firm will pay Rs. 2,000 and balance by Ravinder, a partner. (c) Dissolution expenses amounted to Rs. 10,000 were paid by Amit, a partner, on behalf of the firm. July 25, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
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 − Rs. 40,000 and Y− Rs. 30,000. Creditors amounted to Rs. 24,000. Assets were realised for Rs. 88,500. Creditors of Rs. 16,000 were taken over by X at Rs. 14,000. Remaining Creditors were paid at Rs. 7,500. The cost of realisation came to Rs. 500. Prepare necessary accounts. July 26, 2022
A and B are partners in a firm sharing profits and losses in the ratio of 2 : 1. On 31st March, 2019, their Balance Sheet was: July 26, 2022
Pass Journal entries for the following: (a) Realisation expenses amounted to Rs. 10,000 were paid by the firm on behalf of Alok, a partner, with whom it was agreed at Rs. 7,500. (b) Realisation expenses amounted to Rs. 5,000. It was agreed that the firm will pay Rs. 2,000 and balance by Ravinder, a partner. (c) Dissolution expenses amounted to Rs. 10,000 were paid by Amit, a partner, on behalf of the firm. July 25, 2022
