The ratio of 3: 2:6. (Ratio of CIQ. 12. Het, Heet and Himesh were carr

1.	The ratio of 3: 2:6. (Ratio of CIQ. 12. Het, Heet and Himesh were carrying on business in partnership. The profit sharing proportionwas 5:3 : 2 respectively. Their Balance Sheet as on 31st March, 2019 was as follows:Balance Sheet as on 31st March, 2019AmountAmountAmountAmountAssetsLiabilities47.50012,80028.000Sundry CreditorsHeet's LoanBils PayableBank OverdraftCapital A/cs:Het18.00040.500 Plant and Machinery24,500 Investments27.000Stock54.000 Sundry DebtorsLess : ProvisionGoodwillCash53.500 Profit and Loss A/C1,00017,00025.30026.75023,900Heet10,00016.75045.000Himesh1,99,5001.99.500On this date the firm was dissolved and the assets realised as follows:Plant and Machinery having become obsolete, could realise only 10,000, Investments realised 8,000Stock sold for 10,000. Goodwill realised nothing. Only 50 % of Debtors could pay their dues in fulland remaining turned out as bad. Expenses of realisation incurred 2,400. All partners becameinsolvent. Partnership firm could recover only 1,000 from Himesh's estate. Het could pay * 10,000and Heet 4,000 from their respective private properties.Close the books of the firm by preparing relevant Ledger Accounts.
Answer» Answer: Cells in SERIES. Positive terminal of a cell is connected to another cell NEGATIVE terminal is called series CONNECTION of battery. In this way many cell can be connected in series. In other words if some cell are connected with one common POINT is called series connection )

The ratio of 3: 2:6. (Ratio of CIQ. 12. Het, Heet and Himesh were carrying on business in partnership. The profit sharing proportionwas 5:3 : 2 respectively. Their Balance Sheet as on 31st March, 2019 was as follows:Balance Sheet as on 31st March, 2019AmountAmountAmountAmountAssetsLiabilities47.50012,80028.000Sundry CreditorsHeet's LoanBils PayableBank OverdraftCapital A/cs:Het18.00040.500 Plant and Machinery24,500 Investments27.000Stock54.000 Sundry DebtorsLess : ProvisionGoodwillCash53.500 Profit and Loss A/C1,00017,00025.30026.75023,900Heet10,00016.75045.000Himesh1,99,5001.99.500On this date the firm was dissolved and the assets realised as follows:Plant and Machinery having become obsolete, could realise only 10,000, Investments realised 8,000Stock sold for 10,000. Goodwill realised nothing. Only 50 % of Debtors could pay their dues in fulland remaining turned out as bad. Expenses of realisation incurred 2,400. All partners becameinsolvent. Partnership firm could recover only 1,000 from Himesh's estate. Het could pay * 10,000and Heet 4,000 from their respective private properties.Close the books of the firm by preparing relevant Ledger Accounts.

Answer»

Answer:

Cells in SERIES. Positive terminal of a cell is connected to another cell NEGATIVE terminal is called series CONNECTION of battery. In this way many cell can be connected in series. In other words if some cell are connected with one common POINT is called series connection

)

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment