Girija and Sudha are partners sharing profits and losses in the ratio of 3:2. They dissolved their firm on 31-3-2014.
The details available are:
(a) Assets realised as follows:
Debtors Rs. 22
Furniture Rs 14,000
Buildings Rs. 40,00
Stock Rs 16,000
Motor car Rs 25,000
(b) Investment is taken over by Girija at Book value.
(c) Computer is taken over by Sudha at 10% less.
(d) All liabilities are paid in full
(e) Realisation on Expenses Rs 2,500
Prepare:
(i) Realisation A/c
(ii) Partners capital k/c
(iii) Bank AJc
