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AmountAmount3.00(19) X, Y and Z were partners in a firm sharing profits and losses in the ratio ofBalance Sheet of the firm on 31st March, 2012 was as follows:Balance Sheet as on 31st March, 2012LlabilitiesAmount AmountAssetsSundry Creditors60.000 Cash at BankBills Payable14.000 DebtorsX's Capital2,000 Less: R.D.D.Y's Capital1,000 StockPlant and MachineryFurnitureZ's Capital77.00016.0001,00015003001111TE11The firm was dissolved and assets realised as under:Debtors ? 9,000: Plant and Machinery ? 20,000; Stock ? 12,000 and Furniture 2,000. Realisation expertestate of X and nothing can be recovered from the estate of Y and Z.were amounted to: 1,600. All partners are declared insolvent. Only 500 recovered by the firm from the priPrepare Realisation Alc., Capital Alcs, Deficiencies A/c and Bank A/c.12 200 YA807 2 |
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