24 : Mala, Neela and Kala were in partnership sharing profits in the ratio of 7:2:1 and the balance sheet of the firm as at 31st March 2025 was:
It was agreed to dissolve the partnership as on 31st March 2025 and the terms of dissolution were –
(a) Mala to take over the building at an agreed amount of Rs 31,500.
(b) Neela, who was to carry on the business, to take over the goodwill, Stock and Debtors at book value, the Patents at Rs 30,000 and Plant at Rs 5,000. He was also to pay the creditors.
Show Ledger Accounts recording the dissolution in the books of the firm.
Solution :-
