Page 9 - ha diss

fuH.
(vi)Realisation expenses amounted to Rs 5,000.

Prepare the realisation account, capital accounts of partners and bank account of the
firm.

34. Ram and Shyam were partners in a firm sharing profits in the ratio of 2 : 3
respectively. They become old and no one was there to look after their business.
Therefore, they decided to dissolve the business and donate the amount available to

an NGO who are providing service for growing trees in urban areas to control
pollution. On 31st January, 2014 their balance sheet was as follows:

Ram paid the creditors at a discount of 15% and Shyam paid bills payable in full.

Assets realised as follows: Land at20%less; machinery at Rs 35,000; stock at 25%
less and debtors at Rs 12,500. Expenses on realisation Rs 1,750 were paid by Shyam.
Prepare realisation account, partner’s capital accounts and bank account.

35. A,B,& C are partners in a firm sharing profit in the ratio of
4:3:3.On 01.04.2003 they decided to dissolve the firm. On that

date, A ‘s Capital was Rs 1,25,000, B ‘s Capital was Rs 45,000 and

C’s Capital was Rs 15,000 (Dr.).The creditors amounted to Rs

23,150 and cash in hand was Rs 4,520. The assets realised
Rs1,44,910 and the expenses of dissolution were Rs

1,860.Preapre Realisation Account and Memorandum Balance

sheet.

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