Anita and Sunita are partners sharing Profits and Losses equally. Their balance sheet as on 3 1.03.2018 was as follows:
On the above date the firm was dissolved The folloiing information is available:
a. Assets realised as follows : Debtors Rs. 25,600, Stock Rs.39,000 Building Rs. 66,000
b. Anita took over 50% of Investments at 10% less on its book value and remaining Investments was sold at a gain of 20%.
c. Furniture was taken over by Sunita at Rs.12,000
d. Realization expenses amounted to Rs. 2,000
Prepare:
(a) Realization A/c
(b) Partners’ Capital Accounts
(c) Cash A/c
