Loan from Mrs. X (with a charge on stock)
Loan from Mr. X
Cash at Bank
The firm was dissolved. Stock realised Rs 40,000; Fixed assets and debtors realised Rs 1,20,000 in all. The private position of the partners was as follows:
Z was able to pay 50 paise in the rupee what was payable on his own account to the partnership. The partners shared profits and losses in the ratio of 4:3:3 for X, Y and Z, respectively. The loss on realisation is to be determined after considering the amount finally paid to the creditors. You are required to close the books of the firm by preparing the necessary ledger accounts.
Buy an essay in any subject you find difficult—we’ll have a specialist in it ready
Ask for help with your most urgent short tasks—we can complete them in 4 hours!
Get your paper revised for free if it doesn’t meet your instructions.
Contact us anytime if you need help with your essay
APA, MLA, Chicago—we can use any formatting style you need.
Get a paper that’s fully original and checked for plagiarism